Michael Herz (businessman) explained

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.

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]

Notes and References

  1. Web site: Forbes profile: Michael Herz. Forbes. 10 May 2019.
  2. Web site:
    1. 360 Michael Herz
    . Forbes. July 8, 2015.
  3. News: Sarah Arnott . Tchibo coffee family 'to back' GfK's counterbid for TNS . The Independent on Sunday . 2009-08-30 . London . 2008-07-11.
  4. http://www.marx-forum.de/geschichte/deutschland/milliard_AF.html "Milliardäre in Deutschland A - F"
  5. Web site: 2014-09-14. Claudia Rach. 2009-08-13. Escada Denies Herz Brothers Turnaround Coup as Company Crumbles. Bloomberg.
  6. Web site: 2014-09-14. Carsten Dierig. 2009-04-28. Modekonzern Escada steht kurz vor der Insolvenz. Die Welt.