Michael Herz
$5.7B
Born
Sep 28, 1943
Age
82
Source of Wealth
Coffee
Residence
Hamburg,
Citizenship
Germany
Marital Status
Married
Children
0
Education
- Together with his brother Wolfgang, Michael Herz derives his fortune from two of Germany's most recognized companies: Tchibo and Beiersdorf.
- Their father, Max, along with Carl Tchiling-Hiryan, founded Tchibo, which imports and sells coffee, in 1949. Max passed away in 1965.
- Tchibo expanded into retailing a range of other consumer goods and services including clothing and electronics.
- Family holding company maxingvest ag controls 100% of Tchibo and around 47% of the voting shares of Beiersdorf, whose brands include Nivea and Eucerin.
- Older brother Guenter and sister Daniela Herz-Schnoeckel were bought out in 2003.
- Max Herz came up the idea of opening stores where coffee could be both sipped and sold over the counter -- a forerunner to Starbucks.
- A fourth brother, Joachim, died in a motorboat accident in 2008.
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