Karl-Heinz Kipp – Billionaire
Karl-Heinz Kipp (born 1924) is the German billionaire founder of the Massa chain of German department stores and, having since sold the business whilst keeping the property, has a large property portfolio. In 2015 Forbes estimated his net wealth at $5.1 billion.
Career
He began his career in 1948 selling clothes and opened his first Massa department store in 1965. The Massa stores were introduced on the German stock market in 1986. In 1987 Kipp sold his remaining shares but he kept the real estate of the stores, which he rents to retailer Metro AG.
Kipp owns real estate in the US, notably several high-end properties in Manhattan including 950 Third Avenue. In addition, he has five Swiss hotels and resorts in his “Tschuggen Hotel Group”, including the Hotel Eden Roc in Ascona, the Carlton Hotel in St Moritz and the Tschuggen Grand Hotel in Arosa.
Personal life
Kipp and his wife, Hannelore live in Arosa, Switzerland.
His son, former Florida resident Ernst-Ludwig Kipp, died in 2003, leaving behind his seven children. His daughter Ursula married Dr Wilfried Bechtolsheimer and together they have three sons, Felix (a singer with the rock group Hey Negrita), Goetz, and Till, and a daughter, Laura (an Olympic dressage rider).
Source:wikipedia