Michael Herz

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This article may require cleanup to meet Wikipedia's quality standards. Please improve this article if you can. (September 2006)

Michael Herz (1946-) is the owner of the family-owned Tchibo Holding, one of Germany's largest retail groups, and makers of Tchibo products. Last August he and two brothers bought out Günter and sister, Daniela, for an estimated US$5 billion. With the dispute resolved, the remaining family members faced no resistance bidding for a larger stake in Beiersdorf, maker of NIVEA products.

Tchibo now owns nearly half, assuring that the company, also courted by L'Oréal and Procter & Gamble, remains in German hands. Word is Michael and brother Wolfgang, who each own 34% of Tchibo, have emerged as the key players in the business. Brother Joachim with his 15% share apparently plays a lesser role.

[edit] See also

• List of billionaires

[edit] External links

• Forbes.com: Forbes World's Richest People