Michael Herz

Source of wealth: Coffee

82 years male Fashion & Retail 🇩🇪 DE

Net Worth

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Earnings per second

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The scale of their wealth

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Health

The price of life

Let's compare Michael Herz's fortune with the healthcare spending of a massive country

Michael Herz could fund the entire healthcare system of DR Congo, with a population of over 105,800,000 people, for approximately 2.6 years.

But even if we compare their fortune with that of a rich country

On the other end, Michael Herz could cover the healthcare spending of Luxembourg, considered the most heavily funded healthcare system in the world, for 1.2 years.

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Education

Buying the future

Let's also compare their fortune with education spending, first with a poor country

Michael Herz could cover the total cost of Nigeria's education system, the most populous country in Africa with over 243,000,000 inhabitants, for 1.7 years.

And yes, we can also compare it with a rich country

But they couldn't just cover the cost of a poor country; Luxembourg is considered the country with the highest per capita investment in education in the world, and Michael Herz could pay for it entirely for 2.3 years.

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Research

The monopoly on progress

Coming full circle, we think it's also interesting to add another gigantic country

Michael Herz could fully fund the state research budget of Pakistan, the fifth most populous country in the world with over 260,000,000 inhabitants, for 9.7 years.

And of course, the country that invests the most per capita worldwide

But even if we compare the total wealth of Michael Herz with Israel, the country that invests the most per capita in research in the world, they could cover the total cost of the system for 0.2 years.

While billions of people struggle to access basic healthcare, education, and research, a single individual could fund entire national systems for centuries.

Gold

Everyday luxuries

Michael Herz's fortune is equivalent to 40 tons of gold. It's hard to process, since we don't usually keep a handful of gold bars in our piggy banks.

A standard gold ring usually weighs between 4 and 7 grams. Let's say this one weighs 5 grams. It's usually 18 karats.

Based on today's gold price (excluding the jeweler's commission, shipping, or anything else), that ring would be worth $546.86.

Michael Herz could buy 10,587,800 gold rings. That's a lot of fingers and way too many gifts!!

And if you're struggling to visualize that many rings, it would take 2 trucks to transport them. Although Michael Herz will almost certainly have enough money left over to pay for the gas.

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Biography

Michael Herz derives his fortune from two of Germany's most recognized companies: Tchibo and Beiersdorf, which he shares with his brother Wolfgang.

Their father, Max, along with Carl Tchiling-Hiryan, founded Tchibo, which imports and sells coffee, in 1949. Max passed away in 1965.

Tchibo expanded into retailing a range of other consumer goods and services including clothing and electronics.

Family holding company maxingvest ag controls 100% of Tchibo and around 47% of the voting shares of Beiersdorf, whose brands include Nivea and Eucerin.

Older brother Guenter and sister Daniela Herz-Schnoeckel were bought out in 2003.