Gunter Herz

Gunter Herz, the German entrepreneur, has an estimated net worth of $2.7 billion and is presently the 34th richest person in Germany. He acquired his net worth when he, along with his other siblings, inherited a massive fortune from Max Herz, their father, who was a coffee magnate. He was the head of the family’s Tchibo holding (now Maxingvest AG) for 35 long years.

 Tchibo Holding made rapid progress under his leadership. In 1977 it bought a 25% stake in Beiersdorf AG and three years later it acquired a stake in a European cigarette company, Reemstma. However, a bitter family feud led Gunter and his sister Daniela to sell their 40% stake in the firm to their mother and three other siblings for $5 billion. This incident took place in 2003 and they now re-invested the money they got in Mayfair SE. 

In May 2008 his brother Joachim died after being hit by boat while he was swimming in the Georgia Lake. He spends his casual time by raising horses at his stud farm and enjoying in his yacht – All Smoke. He is married and resides in Hamburg, Germany. He has 2 children and both of them sits on the management board of the firm. 

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References:

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