Michael Herz, who comes from the family that owns Tchibo Holding, has an estimated net worth of $5 billion. The Tchibo Holding is one of the largest retail groups in Germany and it produces Tchibo products. Michael Herz, also holds a 50% stake in the skin care company Beiersdorf AG which sells the popular brand, Nivea. Tchibo Holding has made huge profits over the years and has successfully made Michael Herz one of the wealthiest men in Germany.
Read also : The Billionaires of Germany
Michael inherited a lot of riches from his father and the beneficiaries also included his mother, Ingeburg and his other siblings namely Daniela, Wolfgang, Gunter & Joachim. Michael, Ingeburg and Wolfgang owns the Tchibo Holding and this company, as stated, holds a substantial share in Nivea and the coffee maker company, Tchibo GmbH.
There has always been a lot of discomfort and in-fighting within the family because of the huge family fortune. It has been reported that Michael and his brother actually threw out the two other siblings, Daniela and Ginter, from the company way back in 2003. But this battle for the family riches was marred by the untimely death of their brother, Joachim, in 2008. The family has claimed that Joachim’s wealth has been donated to various charities.