Horst Paulmann is a German-Chilean businessman with an estimated net worth of $3.7 billion as of December 2015 according to Forbes.

Paulmann began accumulating his estimated net worth of $3.7 billion as the CEO and Chairman of the Board of Cencosud, the operator of a chain of supermarkets, malls, banks, insurance groups, entertainment centers, and a travel agency. He and his family own 61% of $15.6 billion 2011 revenues of the firm and his three children are all members of the board. The company is currently working on the Costanera Center. Once completed, it will be the tallest building (960 feet) in Santiago. During its first three months of operation, an estimated 7 million people visited the 250-store mall. In 2012, it has won over Wal-Mart in the purchase of Carrefour’s Colombian operation for $2.6 billion. It also bought the nearly 39% stake of Jumbo Retail Argentina that it did not yet own for $484 million.

Before that, Horst Paulmann opened the first Hipermercados Jumbo and he already has 43 grocery stores as of 2011. He still continues to create a massive retail empire which has already expanded across Chile, Colombia, Argentina, Peru and Brazil. Currently, it has 917 stores and 29 shopping centers.