German billionaire Karl-Erivan Haub,58-year-old, the owner and CEO of the Tengelmann retail empire, described as an experienced skier and mountaineer, disappeared in the Alps at the weekend.
Mr Haub's family, who is one of the richest in the world, it’s fortune being estimated at more than €3bn (£2.6bn), raised the alarm after he failed to return to his hotel on Saturday afternoon. On April 7, 2018, he went training for a skiing tour in Zermatt, Switzerland and has been reported as missing. Authorities in Switzerland and Italy are searching for him.
Mr Haub could have fallen into a crevasse, said Bruno Jelk, an experienced mountain rescue expert based in Zermatt who has been advising on the search efforts. But the big problem is it’s not known specifically where he went missing. The family has made unlimited resources available to the search teams "but in these conditions they're useless." Fresh snow and windy conditions have made it even more difficult for searchers to pick up on any traces. Bad weather and high avalanche risk on the Italian side forced a six-person team to interrupt their search on Tuesday. Weather conditions also were limiting helicopter search options. The Tengelmann group owns a number of retail chains.Its main businesses are the hardware store Obi and clothing retailer KiK. It also has large stakes in the Netto supermarket chain and online retailer Zalando.