What is Michael Herz's Net Worth?
Michael Herz is a German businessman who has a net worth of $4.2 billion. He is one of the owners of Tchibo Holding, one of the largest retail groups and producers of Tchibo products in Germany. Being owned by the Herz family, the company's profits were the ones to make the clan one of the wealthiest in Germany. Michael, along with his mother Ingeburg and his siblings Wolfgang, Daniela, Gunter and Joachim, came into great riches from their father's inheritance. The trio composed of Michael, Ingeburg and Wolfgang owns the Tchibo Holding, which is currently known as Maxingvest GmbH.
The company also holds 50.47% of stakes at the personal care company Beiersdorf AG and coffee maker Tchibo GmbH. Michael and his brother Wolfgang mercilessly dedicated themselves to kicking out their other siblings Daniela and Gunter from the company in 2003. The battle for family fortune was marked by their brother Joachim's death in 2008. Reportedly, the most of Joachim's fortune was donated to charities.
