The Joachim Herz Stiftung owes its existence to Joachim Herz, an entrepreneur of Hamburg origin, who died in May 2008, and to his wife Petra Herz. Both of them provided for the generous and significant financial strength of the foundation. The approval of the Joachim Herz Stiftung situated in Hamburg was obtained on 24 July, 2008. The assets of the foundation are predominantly invested in several corporations including an indirect stake in Beiersdorf AG via maxingvest ag among others.