The family behind two of Germany’s most iconic banners, coffee and consumer products giant Tchibo and skincare company Beiersdorf, whose brands include Nivea.
Max Herz and Carl Tchilinghiryan founded Tchibo as a coffee importer and seller in 1949. After Max’s death in 1965, his eldest son, Gunter Herz, became CEO and eventually expanded the business into an international conglomerate with 39,000 locations across Germany over his 35-year tenure. Gunter stepped down in 2001 following a well-publicised family power struggle involving his mother, sister, Daniela Herz-Schnoeckel, and three brothers, Michael, Wolfgang and Joachim Herz.
Gunter and Daniela’s 40 per cent interest in the family’s holding company, maxingvest AG, was eventually bought out by their mother and brothers in 2003 for an estimated $5 billion. Gunter and Daniela went on to form an investment company together. Through the family holding company, Wolfgang and Michael Herz own 100 per cent of Tchibo and around 47 per cent of Beiersdorf. Joachim died in 2008. The family’s net worth is estimated at over $5 billion.
