Guenter Herz & family – Billionaire
Guenter Herz & family
REAL TIME NET WORTH — as of 4/26/17
$3.6 B
After the death of his father Max in 1965, Guenter Herz, at age 24, grabbed the reins of his family’s coffee business and built upon Max’s idea of opening stores where coffee could be both sipped and sold over the counter — a forerunner to Starbucks. Guenter ran the business for almost 35 years, building Tchibo into a retailing force by adding a wide range of other consumer goods and services. A family feud heated up after he advanced a plan to take the company public to finance acquisitions and fortify itself against deep-pocketed competitors. In 2003, sister Daniela and he sold their combined 40% interest in the family holding company — which included a stake in skin-care products maker Beiersdorf, whose brands include Nivea — for an estimated $5 billion. They plowed a chunk of those funds into private equity firm Mayfair SE, which, in 2006, acquired shipping classification company Germanischer Lloyd. In December 2012, the company agreed to merge with Det Norske Veritas of Norway. The combined DNV GL Group, of which Mayfair owns 36.5%, has 15,000 employees and annual revenue of around $2.8 billion from providing classification and certification services to clients in the oil and gas, maritime and renewable energy sectors. Mayfair also owns 44% of Vapiano Group; a franchiser of self-serve Italian food restaurants, it was founded in 2002 by the German entrepreneur Gregor Gerlach. With over 175 outlets in 31 countries, Vapiano is looking to establish a presence in Japan and China. Guenter, an avid fan of race horses and competitive sailing, has enjoyed success as a breeder of trotters.
Source:forbes
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