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Karl-Heinz Kipp (12 February 1924<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> – 11 October 2017)<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> was a German billionaire, and founder of the Template:Ill department store chain. He sold the business but kept the property, and had a large property portfolio.<ref name=Forbes>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> In 2017, Forbes estimated his net wealth at US$4.9 billion.<ref name=Forbes/>
CareerEdit
Kipp began his career in 1948 selling clothes and opened his first Massa department store in 1965.<ref name=Forbes/> At the beginning of the 1970s Kipp built the first large-scale consumer marketTemplate:Clarify on a "greenfield site". Within a few years, 30 more Massa supermarkets followed in southwestern Germany. In 1981, Kipp introduced financial shopping.Template:Clarify In 1986, the Massa supermarkets shares went public. In 1987, Kipp sold his remaining shares but kept the real estate, which he rented to the retailer Metro AG.<ref name=Forbes/>
Real estateEdit
Kipp owned real estate in the U.S., including 950 Third Avenue in Manhattan.<ref name="Forbes" />
In 1980 Kipp acquired the five-star Tschuggen Grand Hotel in Arosa.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> 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.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>
Personal lifeEdit
Kipp and his wife, Hannelore resided in Arosa, Switzerland.<ref name=Forbes/>
His son, former Florida resident Ernst-Ludwig Kipp, died in 2003, leaving behind his seven children. His daughter Ursula married Dr Wilfried Bechtolsheimer and together they have three sons, Felix (a singer with the rock group Hey Negrita), Goetz, and Till (the founder of Arosa Capital Management and amateur racing driver who competes in the 2021 IMSA SportsCar Championship),<ref>Template:Cite news</ref><ref>Weathertech Sportscar Championship Till Bechtolsheimer, imsa.com. Retrieved 26 May 2022. Template:Archive url</ref> and a daughter, Laura, an Olympic dressage rider.<ref>The Sunday Times - Rich List - Dr Wilfried and Ursula Bechtolsheimer and family, 27 April 2008</ref>