Karl-Heinz Kipp
Karl-Heinz Kipp | |
|---|---|
| Born | Template:Birth date Germany |
| Died | October 11, 2017 (aged 93) |
| Occupation(s) | Businessman, real estate investor |
| Known for | Founder of Massa department store chain, owner of Tschuggen Hotel Group |
Karl-Heinz Kipp (12 February 1924 – 11 October 2017) was a German billionaire recognized for establishing a department store chain. Following the sale of his retail enterprise, he maintained control over the associated real estate assets, thereby amassing an extensive property portfolio. In 2017, his fortune was valued by Forbes at approximately US$4.9 billion.
Career
Kipp commenced his career in 1948 with clothing sales and inaugurated his inaugural Massa department store in 1965. By the early 1970s, he pioneered the development of a large-scale consumer market on undeveloped land, eventually expanding to 30 Massa supermarket locations throughout southwestern Germany. Financial shopping services were launched in 1981 under his direction. The Massa supermarkets were publicly listed in 1986, and a year later, Kipp divested his remaining shares while retaining ownership of the real estate, which he leased to the retailer Metro AG.
Real estate
Among Kipp's property investments were holdings in the United States, including the notable address at 950 Third Avenue in Manhattan. In 1980, he purchased the prestigious five-star Tschuggen Grand Hotel located in Arosa. His portfolio under the "Tschuggen Hotel Group" also featured luxury Swiss hotels such as Hotel Eden Roc in Ascona, Carlton Hotel in St Moritz, and the Tschuggen Grand Hotel in Arosa.
Personal life
Residing with his wife Hannelore in Arosa, Switzerland, Kipp maintained a private family life.
His son, Ernst-Ludwig Kipp, formerly based in Florida, passed away in 2003 and left behind seven children. His daughter, Ursula, is married to Dr. Wilfried Bechtolsheimer. They have four children: three sons—Felix, who performs with the rock band Hey Negrita; Goetz; and Till, founder of Arosa Capital Management and participant in the 2021 IMSA SportsCar Championship—and a daughter, Laura, who competes as an Olympic dressage athlete.