Michael Herz (businessman)
Michael Herz (born 1943)[1] is a German businessman, co-owner of the German coffee shop and retail chain Tchibo.
Michael Herz | |
|---|---|
| Born | 1943 (age 77–78) |
| Nationality | German |
| Occupation | Businessman |
| Known for | Co-owner, Tchibo |
| Net worth | $4.9 billion (May 2019)[1] |
| Title | Member of management board, Maxingvest |
| Spouse(s) | Married |
| Parent(s) | Max Herz and Ingeburg Herz |
| Relatives | Wolfgang Herz (brother) Günter Herz (brother) Daniela Herz-Schnoekel (sister) Joachim Herz (brother, deceased) |
Family business
In 1965, after the death of his father Max, who co-founded Tchibo in 1949 with Carl Tchilinghiryan, Herz joined Tchibo as head of sales.[2]
In 2007, the Tchibo holding company, changed its name from Tchibo Holding AG to Maxingvest AG.[3] It is 100% owned by family members. In 2003, along with his mother and brother Wolfgang, he bought out his other brother, Günter Herz, and sister, Daniela Herz-Schnoekel. In 2008, his brother Joachim died in a motorboat accident.[1]
Personal life
According to Forbes’ list of global billionaires, Herz is listed at number 360 with a net worth of $4.3 billion as of July 8, 2015. He was the 21st richest man in Germany and in 2003 made the top 10.[4][2] He is married and lives in Hamburg.[1]
References
- "Forbes profile: Michael Herz". Forbes. Retrieved 10 May 2019.
- "#360 Michael Herz". Forbes. July 8, 2015.
- Sarah Arnott (2008-07-11). "Tchibo coffee family 'to back' GfK's counterbid for TNS". The Independent on Sunday. London. Retrieved 2009-08-30.
- "Milliardäre in Deutschland A - F". Accessed 31 May 2016.