Karl-Heinz Kipp (born 1924) is the German billionaire founder of the Massa chain of German department stores and, having since sold the business whilst keeping the property, has a large property portfolio. In 2015 Forbes estimated his net wealth at $5.1 billion.He began his career in 1948 selling clothes and opened his first Massa department store in 1965.The Massa stores were introduced on the German stock market in 1986. In 1987 Kipp sold his remaining shares but he kept the real estate of the stores, which he rents to retailer Metro AG. Wikipedia
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