Michael Herz (businessman)

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

In 1965, after the death of his father Max, who co-founded Tchibo in 1949 with Carl Tchilinghiryan, Herz joined Tchibo 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 three family members, including Hertz, his mother Ingeburg, and his brother Wolfgang Herz. In 2003, along with his mother and brother, he bought out his other brother, Günter Herz, and sister, Daniela Herz-Schnoekel. In 2008, his brother Joachim died in a motorboat accident.

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 is the 21st richest man in the country of Germany and in 2003 he made the top 10.He is married and lives in Hamburg.