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#428 Daniela Herz $4.58B

Random fact: Guenter took over family company after father's death in 1965.

Overview

Herz co-owns stakes in maritime advisory services company DNV GL and restaurant chain Vapiano with her brother Guenter Herz. The pair were bought out of the family's Maxingvest holding company for $4.7 billion in 2003 and sold their stake in sporting-goods manufacturer Puma for $740 million four years later.

As of Oct. 17, 2017:
Last change -$1.43M (-0.0%)
YTD change -$3.80M (-0.1%)
Industry Diversified
Biggest asset Cash
Citizenship Germany
Age 62
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Daniela Herz's net worth of $4.58B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Herz's fortune is derived from closely held investment company Mayfair Vermoegensverwaltung, which she shares equally with her older brother, Guenter. The Herz siblings were bought out of Maxingvest, the Herz family's original holding company, for $4.7 billion in 2003, after a feud about an investment strategy. The pair collected more than $740 million selling a 27 percent stake in sporting-goods maker Puma in 2007.

They share a 36.5 percent stake in DNV GL, a maritime inspection company. The Hovik, Norway-based business had revenue of 20.8 billion Norwegian Kroner ($2.5 billion) in 2016 and is valued using the enterprise value-to-Ebitda multiple of two publicly traded peer companies: Bureau Veritas and SGS. They also control a 40 percent interest in restaurant chain Vapiano, which had revenue of 430 million euros ($477 million) in 2015 and is valued using the average enterprise value-to-Ebitda multiple of five publicly traded peer companies: Bravo Brio, Brinker International, Darden Restaurants, Bloomin' Brands and Mitchells & Butlers.

The value of her cash investments is based on an analysis of dividends, insider transactions, taxes and market performance.

Biography

Birthdate: 1954
Family: Married, No children

Max Herz founded Tchibo in 1949, establishing a chain of Hamburg coffee shops with business partner Carl Tchilling-Hiryan. He married Ingeburg Herz in 1940, and the couple had five children: Guenter, Joachim, Michael, Wolfgang and Daniela. When Max died at age 60 in 1965, he had no succession plan in place. His oldest son, Guenter, took over as CEO against the will of his three younger brothers and, with the help of his mother and siblings, transformed Tchibo into a retail chain that specialized in coffee products.

The Herz family purchased a stake in personal care company Beiersdorf, the maker of Nivea skin creams products, in 1974, and built it into a majority stake. They became the majority shareholders of closely held Hamburg-based cigarette producer Reemtsma in 1980, selling the stake in 2002 to Imperial Tobacco for $6.7 billion, for a profit of more than $4.5 billion. Guenter had stepped down from his CEO position the year before after decades of family quarrels, and Michael, Wolfgang and Joachim bought the stakes held by Daniela and him for about $4.7 billion. Then called Tchibo Holding, the company was renamed Maxingvest in 2007, in honor of parents Max and Inge.

The two siblings invested in sporting goods maker Puma in 2005, and collected more than $740 million two years later when they sold their 27 percent stake to French retail conglomerate Kering controlled by billionaire Francois Pinault. They also bought Germanischer Lloyd, a Hamburg-based maritime inspection firm in 2006, and acquired a 40 percent stake in Bonn, Germany-based Italian restaurant chain Vapiano International four years later.

Joachim died in 2008 after being hit by a motorboat while swimming. His 17.5 percent stake in Maxingvest was donated to a foundation that the family named after him.

Milestones
  • 1905 Father Max Herz is born.
  • 1940 Max marries Ingeburg Herz; the couple has five children.
  • 1965 Herz Sr. dies; older brother Guenter becomes Tchibo CEO.
  • 2001 Guenter leaves Tchibo after a dispute.
  • 2002 Sells stake in Reemtsma for $6.7 billion to Imperial Tobacco.
  • 2003 Daniela and Guenter are bought out of Tchibo.
  • 2007 Sells Puma stake to French retailer Kering.
  • 2008 Brother Joachim dies after being hit by a boat while swimming.