With a net worth of $5.6 billion, Horst Paulmann is a highly successful businessman in Chile.
Horst Paulmann, who was born in Germany, moved to Chile shortly after World War II.
He went on to amass a vast retail empire.
In the mid-70s, he established Hipermercados Jumbo, his first grocery store.
Since its inception, the store has expanded to over 600 supermarkets across several countries, including Chile, Argentina, Peru, and Brazil.
Afterward, he established Cencosud, a holdings company that oversees his supermarket businesses, insurance entities, retail outlets, shopping malls, entertainment venues, and a travel agency.
Cencosud’s shares are 63% owned by his family, and his children are all board members.
The Costanera Center is being built by Cencosud at present.
The building’s completion will result in it becoming the tallest building in Santiago.
The Chilean government has accused him of falsely claiming to provide earthquake relief, which he later sold instead of giving as a donation.