Gunter Herz Net Worth

Net Worth: $2.8 Billion
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    Gunter Herz
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About Gunter Herz

Gunter Herz is a German entrepreneur who has an estimated net worth of $2.8 billion as of May 2015 according to Forbes. According to Forbes, he is the 34th richest person in Germany and is ranked 527th in the list of World Billionaires.

Herz earned his estimated net worth of $2.7 billion when, along with his siblings, he inherited a fortune from their father, Max Herz, who is a coffee magnate. For 35 years, he is the head of the family’s Tchibo Holding which is now called Maxingvest AG. In 1977, the firm bought a 25% stake in the publicly listed Beiersdorf AG. In 1980, it has acquired a stake in Reemstma, a European cigarette company. Such stake was increased to 76% over the years.

In 2002, Gunter stepped down as the CEO of the group. He and his sister Daniela sold their combined 40% in the firm to their mother and three brothers (two of them are billionaires) for an estimated $5 billion in 2003. They invested the money they received in the private equity firm Mayfair SE, which acquired in 2011 40% of the Vapiano Group, a restaurant chain which operates in more than 70 locations in Europe, the U.S. and the Middle East. His two children, Michaela and Christian, sit on the management board of the firm.

Gunter Herz acquired, in 2006, the shipping classification company Germanischer Lloyd. In December 2012, it has agreed to merge with Norway’s Det Norske Veritas and will be called DNV GL Group.