Karl-Heinz Kipp’s profile picture

Karl-Heinz Kipp

Karl-Heinz Kipp’s profile picture
Net worth 2018: $4.5 Billion
Country: Germany
BirthDay: 12 February 1924
Sigh: Pisces
Died On: 11/10/2017
Children: 2
BIOGRAPHY

Karl-Heinz Kipp was bornon 12 February 1924 in Germany. German billionaire Karl-Heinz Kipp died in October 2017. Kipp made his first fortune in retailing and his second one in real estate. After selling clothes for more than a decade, he opened the first Massa department store in 1965. He sold the chain in 1985, but smartly held on to the underlying property and struck a lucrative lease deal with retailer Metro. At the time of his death, he owned three five-star properties: the Tschuggen Grand Hotel in Arosa, where he lived with his wife, Hannelore; the all-suite Carlton Hotel in St. Moritz; and the Hotel Eden Roc in Ascona, named hotel of the year in 2014 by the prestigious Gault&Millau ratings guide. His Hotel Valsana in Arosa, a four-star property, is undergoing a complete renovation through 2017. Back in May 2002, Kipp gave his first interview in 15 years to the Swiss magazine Bilanz. When asked what he thought of Forbes's calculation of his wealth, he replied: "That's a worth question, anyone can come around and count for a couple of weeks. Seriously, it's not important any more whether you have one or four billion. What counts for me, is health and a happy family. And in particular, my wonderful wife, thanks to whose superb support everything was made possible." Kipp is also survived by one daughter, Ursula Bechtolsheimer, and several grandchildren; his son Ernst-Ludwig passed away in 2003.

NET WORTH STATISTIC
2009

$5.2 Billion

2010

$5 Billion

2011

$5.1 Billion

2012

$5 Billion

2013

$5.1 Billion

2014

$5.2 Billion

2015

$5 Billion

2016

$5 Billion

2017

$4.5 Billion

2018

$4.5 Billion

TIMELINE
2003

His son, former Florida resident Ernst-Ludwig Kipp, died in 2003, leaving behind his seven children

1987

In 1987 Kipp sold his remaining shares but he kept the real estate of the stores, which he rented to the retailer Metro AG

1986

The Massa stores were introduced on the German stock market in 1986

1948

Kipp began his career in 1948 selling clothes and opened his first Massa department store in 1965

1924

Karl-Heinz Kipp (12 February 1924 – 11 October 2017) was a German billionaire, and founder of the Massa department store chain

(4/111 votes)
Related Person
Donald Hall’s profile picture
Donald Hall
Net Worth is $1.3 Billion
Solomon Lew’s profile picture
Solomon Lew
Net Worth is $1.29 Billion
Shin Dong-Bin’s profile picture
Shin Dong-Bin
Net Worth is $1.26 Billion
Guilherme Peirao Leal’s profile picture
Guilherme Peirao Leal
Net Worth is $1.2 Billion
Kenneth Morrison’s profile picture
Kenneth Morrison
Net Worth is $1.2 Billion
Andrei Rogachev’s profile picture
Andrei Rogachev
Net Worth is $1.2 Billion