Tchibo heir Günter Herz was forced out by his family in 2001 and sold out with his sister for an estimated $5 billion

Max Herz founded Tchibo in Hamburg on 15 March 1949 with Carl Tchiling-Hiryan, who soon left. He died of a heart attack in 1965, aged 59. His estate passed to his widow Ingeburg and their five children, and all six became billionaires. The eldest son, Günter, ran the group. In 1980 it bought Reemtsma from Jan Philipp Reemtsma for 300 million marks. It also held 30% of Beiersdorf, maker of Nivea. In early 2001 family discord forced Günter out. In 2002 the family sold its 75% of Reemtsma to Imperial Tobacco for €5.3 billion. In 2003 Günter and his sister Daniela, who had disagreed with the others over a stock listing, sold their combined 40% of the family holding for an estimated $5 billion. The buyers were their brothers Michael and Wolfgang. In October 2003 Tchibo bought into the Allianz block of Beiersdorf in a €4.4 billion deal. In 2005 Michael and Wolfgang removed their brother Joachim from the advisory board. He sued and gave a few shares to an activist investor, Karl-Walter Freitag, who questioned the accounts at a shareholder meeting. On 31 May 2008 Joachim was killed by a boat while swimming in Lake Rabun, Georgia. He was childless, and his estate went to a foundation^†. Ingeburg died in 2015^†. In 2026 the holding, Maxingvest, owns all of Tchibo and about 47% of Beiersdorf's voting shares. Forbes lists Michael Herz at $6.3 billion on 26 October 2026.