Karl-Heinz Kipp

Karl-Heinz Kipp (12 February 1924[2] – 11 October 2017)[3] was a German billionaire, and founder of the Massa department store chain. He sold the business but kept the property, and had a large property portfolio.[1] In 2017, Forbes estimated his net wealth at $4.9 billion.[1]

Karl-Heinz Kipp
Born(1924-02-12)12 February 1924
Alzey, Germany
Died11 October 2017(2017-10-11) (aged 93)
Ascona, Switzerland
NationalityGerman
OccupationFounder, Massa
Net worth$4.9 billion (October 2017)[1]
Spouse(s)Hannelore Kipp
ChildrenErnst-Ludwig (deceased) and Ursula
RelativesLaura Bechtolsheimer (granddaughter)

Career

Kipp began his career in 1948 selling clothes and opened his first Massa department store in 1965.[1] At the beginning of the 1970s Kipp built the first large-scale consumer market on a "greenfieldsite". Within a few years, 30 more Massa supermarkets followed in the southwest of Germany. In 1981 Kipp introduced financial shopping throughout the country. In 1986 the Massa supermarkets went public; the following year he sold his last shares in the operationalbusiness of the Massa supermarkets, which were later merged into Metro.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 rented to the retailer Metro AG.[1]

Real estate

Kipp owned real estate in the U.S., including 950 Third Avenue in Manhattan.[1]

In 1980 Kipp acquired the five-star Tschuggen Grand Hotel in Arosa.[4] In addition, he owned 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.[5]

Personal life

Kipp and his wife, Hannelore resided in Arosa, Switzerland.[1]

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.[6]

References
  1. "Karl-Heinz Kipp". Forbes. Retrieved 12 October 2017.
  2. "Heinz Kipp - NamenDB Informationen". namendb.com. Archived from the original on 13 October 2017. Retrieved 12 October 2017.
  3. KG, VRM GmbH & Co. "Massa-Gründer und Alzeyer Ehrenbürger Karl-Heinz Kipp gestorben". allgemeine-zeitung.de. Retrieved 12 October 2017.
  4. "Tschuggen Hotel Group – 40 Jahre Schweizer Luxus-Hotellerie – Starling-PR | Travel PR Agency". Retrieved 30 November 2020.
  5. "Karl Heinz Kipp in the shaken History of the Hotel Carlton". thepalacehotelsoftheworld.com. Retrieved 12 October 2017.
  6. The Sunday Times - Rich List - Dr Wilfried and Ursula Bechtolsheimer and family, 27 April 2008
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