| Michael Herz | |
| Birth Date: | 28 September 1943 |
| Nationality: | German |
| Occupation: | Businessman |
| Member of management board, Maxingvest | |
| Known For: | Co-owner, Tchibo |
| Spouse: | Married |
| Parents: | Max Herz and Ingeburg Herz |
| Relatives: | Wolfgang Herz (brother) Günter Herz (brother) Daniela Herz-Schnoekel (sister) |
Michael Herz (born September 28, 1943)[1] is a German businessman, co-owner of the German coffee shop and retail chain Tchibo.
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]
He is married and lives in Hamburg.[1]
In 2008, his brother Joachim died in a motorboat accident.[1]