Source of Wealth:Coffee
Full Name:Michael Herz
Date of Birth:1946
About Michael Herz
Michael Herz is one of the owners of Tchibo Holding which is one of the largest retail groups that makes Tchibo products. Michael and his siblings Wolfgang, Daniela, Gunter, Joachim received a huge fortune from their father's inheritance. Together with his mother Ingeburg and brother Wolfgang, Michael own the Tchibo Holding which is now popularly known as Maxingvest GmbH. The company owns 50.47% of stakes at Beiersdorf AG and Tchibo GmbH, which is Germany's maker of best brand of coffee.
Together with his brother Wolfgang, they were actively involved in the process of kicking out their siblings Daniela and Gunter from the company in 2003. In 2008, their brother Joachim died of an accident while swimming in a lake in Georgia. It is claimed that majority of Joachim's fortune was donated to a charitable institution.
Michael Herz has an estimated net worth of $4 billion as of April 2016, according to Forbes.
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