Michael Herz (born 1943) is a German businessman, co-owner of the German coffee shop and retail chain

Tchibo Tchibo is a German chain of coffee retailers and cafés known for its range of non-coffee products that change weekly. The latter includes: clothing, furniture, household items, electronics and electrical appliances. In Germany, Tchibo's slogan i ...

Family business

In 1965, after the death of his father Max Herz, who co-founded Tchibo in 1949 with

Carl Tchilinghiryan Carl Tchilinghiryan (27 February 1910 – 8 May 1987) was a German businessman of Armenian origin, who co-founded the coffee house Tchibo. Career In 1949, together with Max Herz, he founded the "Frisch-Röst-Kaffee Carl Tchiling GmbH", which ...

, Herz joined

as head of sales. In 2007, the Tchibo holding company, changed its name from ''Tchibo Holding AG'' to ''Maxingvest AG''. It is 100% owned by family members. In 2003, along with his mother and brother Wolfgang, he bought out his other brother,

Günter Herz Günter Herz (born 1940) is a German businessman, former CEO of the German coffee shop and retail chain Tchibo. Early life Günter Herz is the son of Max Herz and Ingeburg Herz. Max Herz co-founded Tchibo in 1949 with Carl Tchilinghiryan. Car ...

, and sister,

Daniela Herz-Schnoekel Daniela Herz-Schnoekel (born 1954) is a German businesswoman, former part-owner of the German coffee shop and retail chain Tchibo. Early life Herz-Schnoekel is the daughter of Max Herz and Ingeburg Herz. Her father co-founded Tchibo in 1949 wi ...

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

Personal life

According to

Forbes ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also re ...

’ 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."Milliardäre in Deutschland A - F"
Accessed 31 May 2016. He is married and lives in

Hamburg (male), (female) en, Hamburger(s), Hamburgian(s) , timezone1 = Central (CET) , utc_offset1 = +1 , timezone1_DST = Central (CEST) , utc_offset1_DST = +2 , postal ...

References

{{DEFAULTSORT:Herz, Michael Living people German businesspeople in retailing 20th-century German businesspeople 21st-century German businesspeople 1943 births German billionaires

Michael Michael may refer to: People * Michael (given name), a given name * Michael (surname), including a list of people with the surname Michael Given name "Michael" * Michael (archangel), ''first'' of God's archangels in the Jewish, Christian an ...

Businesspeople from Hamburg