With a net worth of $5.2 billion, Karl-Heinz Kipp is a German real estate investor.
Having been born in 1924, he amassed his wealth by establishing a massive chain of department stores called Massa.
In 1948, he commenced his career selling clothes, and in 1965, he inaugurated his first Massa department store.
Kipp sold the Massa shares in 1987, but kept the property of the stores, which he now rents to Metro, while also leveraging his clothing business to invest in real estate.
He had a number of real estate assets in the US, including upscale properties in Manhattan and 950 Third Avenue, which he subsequently disposed of.
Kipp currently possesses a small number of high-end hotels in Switzerland and resorts that are part of Tschuggen Hotel Group.
His wife, Hannelore, and he reside in the Swiss five-star luxury hotel Tschugeen Grand in Arosa, but they also make occasional trips to the Hotel Eden Roc in Ascona and the Carlton Hotel in St Moritz.