What is Karl-Heinz Kipp's Net Worth?
Karl-Heinz Kipp is a German property owner who has a net worth of $5.2 billion. Born in 1924, he made his fortune by founding a massive chain of department stores Massa. His career began in 1948 with selling clothes, and his first Massa department store was opened in 1965. Playing smart, Kipp sold the Massa shares in 1987, but kept the property of the stores, which he now rents to the retailer Metro.
From selling clothes, Kipp spins his interest in real estate. He possessed several real estate assets in the US, including high-end properties in Manhattan and 950 Third Avenue which he later divested. Now, Kipp owns few luxury hotels in Switzerland and resorts jointed in Tschuggen Hotel Group. Together with his wife, Hannelore, they spend their days in his Swiss five-star luxury hotel Tschugeen Grand in Arosa, but also they occasionally pay a visit to the Hotel Eden Roc in Ascona and the Carlton Hotel in St Moritz.
