Michael Herz (businessman)
Template:Short description Template:Infobox person
Michael Herz (born September 28, 1943)<ref name=Forbes>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> is a German businessman, co-owner of the German coffee shop and retail chain Tchibo.
Family business
In 1965, after the death of his father Max Herz, who co-founded Tchibo in 1949 with Carl Tchilinghiryan, Herz joined Tchibo as head of sales.<ref name="#360 Michael Herz">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>
Tchibo is 100% owned by family members. In 2003, along with his mother and brother Wolfgang, he bought out his other brother, Günter Herz, and sister, Daniela Herz-Schnoekel.
In 2007, the Tchibo holding company, changed its name from Tchibo Holding AG to Maxingvest AG.<ref>Template:Cite news</ref>
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 was the 21st richest man in Germany and in 2003 made the top 10.<ref>"Milliardäre in Deutschland A–F". Accessed 31 May 2016.</ref><ref name="#360 Michael Herz"/>
Michael Herz bought and reorganized the book wholesaler Libri and the florist Blume 2000, and he also prevented the break-up of Beiersdorf AG through his efforts. His investment in Escada turned out to be a failure and ended in bankruptcy.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>
Personal life
He is married and lives in Hamburg.<ref name=Forbes/>
In 2008, his brother Joachim died in a motorboat accident.<ref name=Forbes/>