German Billionaire Presumed Dead After Going Missing in the Swiss Alps

A German billionaire and ski enthusiast went missing while training on the Swiss Alps last week and is now presumed dead.

Karl-Erivan Haub, the CEO of Tengelmann Group, a German holding company with several retail and grocery store subsidiaries, went missing last Saturday on the Matterhorn mountain. His family put out a statement Friday through the company that the search and rescue mission has transitioned into a search to find his body.

Sieglinde Schuchardt, a spokesperson for Tengelmann Group called the incident a “tragedy,” in the statement.

“This misfortune is a terrible and unbelievable tragedy for the Haub family as well as for the whole company,” said Schuchardt.

“After more than seven days in the extreme weather conditions of a glacier region, there is no longer any hope of survival for Karl-Erivan Haub,” the statement continued.

Haub, 58, was skiing by himself when he didn’t return and missed a meeting at his hotel in Zermatt, Switzerland, according to German public broadcaster Deutsche Welle.

Click here to read more.

SOURCE: Newsweek, Joe DiFazio