Michael Herz (businessman)

Michael Herz (born September 28, 1943)[1] is a German businessman, co-owner of the German coffee shop and retail chain Tchibo.

Michael Herz
Born1943 (age 79–80)
NationalityGerman
OccupationBusinessman
Known forCo-owner, Tchibo
TitleMember of management board, Maxingvest
SpouseMarried
Parent(s)Max Herz and Ingeburg Herz
RelativesWolfgang Herz (brother)
Günter Herz (brother)
Daniela Herz-Schnoekel (sister)
Joachim Herz (brother, deceased)

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.[2]

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.[3]

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]

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.[5][6]

Personal life

He is married and lives in Hamburg.[1]

In 2008, his brother Joachim died in a motorboat accident.[1]

References
  1. "Forbes profile: Michael Herz". Forbes. Retrieved 10 May 2019.
  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. "Milliardäre in Deutschland A - F". Accessed 31 May 2016.
  5. Claudia Rach (2009-08-13). "Escada Denies Herz Brothers Turnaround Coup as Company Crumbles". Bloomberg. Retrieved 2014-09-14.
  6. Carsten Dierig (2009-04-28). "Modekonzern Escada steht kurz vor der Insolvenz". Die Welt. Retrieved 2014-09-14.
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