Michael Herz (businessman)

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Michael Herz
Born 1943
Residence Hamburg, Germany
Nationality German
Occupation member of Maxingvest's Management Board
Known for Co-owner, Tchibo
Net worth $4.0 billion (January 2015)[1]
Parent(s) Max Herz and Ingeburg Herz
Relatives Wolfgang Herz (brother)
Günter Herz (brother)
Daniela Herz-Schnoekel (sister)
Joachim Herz (brother, deceased)

Michael Herz (born 1943)[1] is a German businessman, co-owner of the German coffee shop and retail chain Tchibo.

Family business[edit]

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 three family members, including Hertz, his mother Ingeburg, and his brother Wolfgang Herz. In 2003, along with his mother and brother, 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[edit]

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 is the 21st richest man in the country of Germany. [4] He is married and lives in Hamburg.[1]

References[edit]

  1. ^ a b c d "Michael Herz". Forbes. Retrieved 19 January 2015. 
  2. ^ "#360 Michael Herz". Forbes. July 8, 2015. 
  3. ^ Sarah Arnott (2008-07-11). "Tchibo coffee family 'to back' GfK's counterbid for TNS". The Independent on Sunday (London). Retrieved 2009-08-30. 
  4. ^ "#360 Michael Herz". Forbes. July 8, 2015.