What is Horst Paulmann's Net Worth?
Horst Paulmann is a businessman who has a net worth of $5.6 billion dollars which makes him one of the richest people in Chile. Born in Germany, Horst Paulmann moved to Chile just after World War II. He went on to create a massive retail empire. He opened his first grocery store, Hipermercados Jumbo in the mid-70s. Since then, that first store has grown to over 600 supermarkets, spread out across Chile, Argentina, Peru, and Brazil. He subsequently launched Cencosud, a holdings company that controls his supermarket interests, as well as insurance groups, retail stores, malls, entertainment centers, and a travel agency. His family owns 63% of Cencosud, and his children are all members of the board. Cencosud is currently building the Costanera Center. When completed, the building will be the tallest in Santiago. He has recently run into trouble with the Chilean government for allegedly pretending to supply earthquake relief, and then selling the goods to the Chilean government instead of donating them.
