Karl-Heinz Kipp (12 February 1924 – 11 October 2017) was a German billionaire, and founder of the department store chain. He sold the business but kept the property, and had a large property portfolio. In 2017, Forbes estimated his net worth at US$4.9 billion. 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.
Personal life
Kipp and his wife, Hannelore resided in Arosa, Switzerland. and a daughter, Laura, an Olympic dressage rider.