Michael Herz’s profile picture

Michael Herz

Michael Herz’s profile picture
Net worth 2018: $5.21 Billion
Residence: Hamburg, Germany
Country: Germany
BIOGRAPHY

Michael Herz was born in Hamburg, Germany, Germany. Michael Herz is #359 in List Billionaires People In The World. Together with his brother Wolfgang, Michael Herz derives his fortune from two of Germany's most recognized companies: Tchibo -- which imports and sells coffee, while also retailing a range of other consumer goods and services -- and listed skin-care company Beiersdorf AG, whose brands include Nivea. (Older brother Guenter and sister Daniela Herz-Schnoeckel were bought out in 2003. A fourth brother, Joachim, died in a motorboat accident in 2008. Their mother, Ingeburg, died in 2015 at age 95.) Wolfgang's father, Max, along with Carl Tchiling-Hiryan, founded Tchibo in 1949. Family holding company maxingvest ag owns 100% of Tchibo and about 46% of Beiersdorf (with annual revenues total around $3.5 billion and $7 billion, respectively). While Beiersdorf has continued on a steady growth path, Tchibo is rebounding from a tough spell financially caused in part by increasing pressure, on one side, from coffee rivals like Starbucks, Nestle and Jacobs Douwe Egberts and, on the other, from consumer goods discounters like Metro and Aldi.

NET WORTH STATISTIC
2009

$2.8 Billion

2010

$3.8 Billion

2011

$3.8 Billion

2012

$4.5 Billion

2013

$4.7 Billion

2014

$4.5 Billion

2015

$4.5 Billion

2016

$3.8 Billion

2017

$4.4 Billion

2018

$5.21 Billion

TIMELINE
Michael Herz may refer to:
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