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Karl-Heinz Kipp had an estimated net worth of $4.5 billion. After World War II, Karl-Heinz Kipp started his retail business by selling clothes in 1948. In 1965, he opened the first Massa Department Store. In 1986, he sold the chain but retained the property which is now rented by the retailer Metro.
He owned several real estate assets in the US which include high-end properties in Manhattan and 950 Third Avenue which he later divested. He also owned four luxury hotels in Switzerland and resorts which include the Carlton Hotel in St. Moritz, the Tschuggen Grand Hotel in Arosa and Hotel Eden Roc in Ascona.
Earnings & Financial Data
|
Date |
Category |
Description |
Amount |
|---|---|---|---|
|
2006 |
Asset |
Investment of Karl Heinz Kipp in a spa with a special top floor that will offer a "program of seasons," including a "winter storm" and a "summer sunshine" at his Tschuggen Grand Hotel in the Swiss Alps |
$27,000,000 |
|
2005 |
Asset |
Estimated value of Karl Heinz Kipp's properties in retail |
$4,800,000 |
|
1986 |
Sale of Asset |
Sale of Karl Heinz Kipp's 26 Massa variety stores in Germany |
$2,200,000,000 |