Karl-Heinz Kipp was a German billionaire, and founder of the Massa AG department store chain. He sold the business but kept the property, and had a large property portfolio. In 2017, Forbes estimated his net worth at US$4.9 billion.
Career
Kipp began his career in 1948 selling clothes and opened his first Massa department store in 1965. 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. ==Personal life==
Personal life
Kipp and his wife, Hannelore resided in Arosa, Switzerland. and a daughter, Laura, an Olympic dressage rider. ==References==