JAB boss Peter Harf: the end of the legendary billionaire maker

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Peter at home alone:

has written spectacular investor history.

Now it is becoming clear that he has what it takes to become a tragic hero.

Photo: Andrea Mantovani / NYT / Redux / laif

At the beginning of June, the employees of the cosmetics company Coty became aware of what a unique world they work in.

Peter Harf (74) stepped in front of their ranks and, in the face of stubborn losses, announced that he would now also act as CEO in addition to being chairman.

"I'm a legend," Harf called to his people.

"Trust me."

The top executives of the top corporations may deal with the purpose of their organization in weekend workshops and with the question of which managers are best to run the store.

For Harf the answer is simple: Harf.

He likes this principle so much that he recently put it on the JAB - a unique holding company of corporations in the consumer goods industry (see graphic "On a coffee trip") that Harf built up and with which he made his financiers the richest clan in the republic: the Reimanns, whose assets are more than 30 billion euros.

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Harf also benefited.

In addition to the four Reimann families who hold almost 90 percent of JAB, the management team also has a stake in the holding company.

The value of Harf's share: around one billion euros.

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