| Michael Herz | |
|---|---|
| Born | (1943-09-28) September 28, 1943 (age 81) |
| Nationality | German |
| Occupation | Businessman |
| Known for | Co-owner, Tchibo |
| Title | Member of management board, Maxingvest |
| Spouse | Married |
| Parent(s) | Max Herz and Ingeburg Herz |
| Relatives | Wolfgang Herz (brother) Günter Herz (brother) Daniela Herz-Schnoekel (sister) |
Michael Herz (born September 28, 1943) is a German businessman, co-owner of the German coffee shop and retail chain Tchibo.
Family business
In 1965, after the death of his father Max Herz, who co-founded Tchibo in 1949 with Carl Tchilinghiryan, Herz joined Tchibo as head of sales.
Tchibo 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 2007, the Tchibo holding company, changed its name from Tchibo Holding AG to Maxingvest AG.
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.
Michael Herz bought and reorganized the book wholesaler Libri and the florist Blume 2000, and he also prevented the break-up of Beiersdorf AG through his efforts. His investment in Escada turned out to be a failure and ended in bankruptcy.
Personal life
He is married and lives in Hamburg.
In 2008, his brother Joachim died in a motorboat accident.
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.
- Claudia Rach (2009-08-13). "Escada Denies Herz Brothers Turnaround Coup as Company Crumbles". Bloomberg. Retrieved 2014-09-14.
- Carsten Dierig (2009-04-28). "Modekonzern Escada steht kurz vor der Insolvenz". Die Welt. Retrieved 2014-09-14.