Michael Herz

Net Worth

$5.781B

-0.54% (24h)

Michael Herz, born in 1943, is a German businessman with an estimated net worth of $5.7 billion. His primary wealth source is coffee, stemming from his ownership of Tchibo Holding, a major European coffee retailer and consumer goods company. Herz, along with his brother Wolfgang, controls 100% of Tchibo, solidifying his position as a prominent figure in the fashion-retail industry. Beyond his business ventures, he co-founded Troma Entertainment, an independent film production company known for producing cult classic films.

The Full Dossier

Early Life

Michael Herz was born on September 28, 1943, in Germany. Details about his early life and childhood are not readily available.

Rise to Success

In 1965, after the death of his father, Max Herz, Michael joined Tchibo as head of sales. Tchibo was co-founded by Max Herz and Carl Tchilinghiryan in 1949. Over the years, Tchibo expanded beyond coffee into retailing a range of other consumer goods and services including clothing and electronics. Michael, along with his mother Ingeburg, and his brother Wolfgang, own Tchibo Holding, now known as Maxingvest GmbH.

Key Business Strategies

Michael Herz has focused on expanding Tchibo Holding into a global coffee empire. Tchibo's success is also attributed to its unique business model, offering a wide range of products beyond coffee and services.

Philanthropy

There is no publicly available information about Michael Herz's philanthropic activities.

Career Timeline

1949

Co-founder, Troma Entertainment

Co-founded independent film production and distribution company.

1965

Head of Sales, Tchibo

Joined Tchibo as head of sales after his father's death.

Philanthropic Impact

Unknown$XB

Unknown

Information not available