Thursday, 8th January 2009

 
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5 June 2008 - David Bain

German billionaire dies

German billionaire Joachim Herz, who owned 15% of Maxingvest that owns coffee retailer Tchibo and a majority of Nivea cosmetics maker Beiersdorf, died last week at his home in Atlanta, according to a Bloomberg report.

Herz was estimated by Forbes magazine to be worth $2.5bn. He was one of the five children who inherited the fortune of Tchibo founder Max Herz.

Born in 1941, Herz apparently died of “an unspecified bathing-related accident”, according to a spokesman for Maxingvest, who was cited in the Bloomberg report.

Tags: Germany

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