Michael Herz (businessman)
Michael Herz | |
|---|---|
| Born | 1943 (age 80–81) |
| 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) Joachim Herz (brother, deceased) |
Michael Herz (born September 28, 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 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[edit]
He is married and lives in Hamburg.[1]
In 2008, his brother Joachim died in a motorboat accident.[1]
References[edit]
- ^ a b c "Forbes profile: Michael Herz". Forbes. Retrieved 10 May 2019.
- ^ a b "#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.