Karl Albrecht Net Worth is$26.5 Billion
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Profession: Businessperson, Entrepreneur

Date of Birth: Feb 20, 1920

Ethnicity: Germans

Country: Germany

Karl Albrecht, a businessman born in Essen, Germany, has an estimated net worth of $26.5 billion dollars. Karl Albrecht is the richest man in Germany and co-founded the Aldi chain of grocery stores in Germany with his brother Theo. The brothers created the chain after they took over their mother's small neighborhood grocery. He relinquished his position at Aldi in 2002 at the age of 82.
Karl Hans Albrecht (born 20 February 1920) is a German entrepreneur who founded the discount supermarket chain Aldi with his brother Theo. He is among the richest men in the world, with an estimated net worth in 2011 of $25.4 billion according to Forbes, which ranks him 10th in its 2012 list of billionaires - making him the oldest billionaire in the Top 20 list. Albrecht is the wealthiest person in Germany.
Karl and Theo Albrecht were born and raised in modest circumstances in Essen, Germany. Their father was employed as a miner and later as a baker's assistant. Their mother had a small grocery store in the worker's quarter of Schonnebeck, a suburb of Essen. Theo completed an apprenticeship in his mother's store, while Karl worked in a delicatessen shop. Karl also served in the Wehrmacht during World War II. After the war, the brothers took over their mother's business. The first Aldi (Albrecht-Discount) was opened in 1961.[citation needed]
In 1961, Aldi's operations were divided between the brothers, with Karl taking control of the more profitable Aldi Sud (South), and Theo managing Aldi Nord (North).
In 1994, Karl Albrecht removed himself from the daily operations of Aldi Sud and took the position of chairman of the board. At the beginning of 2002, he also relinquished this position, thereby completely ceding control of the firm. Today, the business is no longer run by any of Karl Albrecht's family members.
Because Karl Albrecht has withdrawn himself from public life, little is known about him. Forbes magazine reports that he has two children, neither of whom is employed by Aldi. He reportedly lives in Essen, as did his brother Theo until the latter's death. He is a fan of golf, and plays at his personal golf course, the Oschberghof, which he built in 1976. He also raises orchids. It is rumored that he collects antique typewriters and has made a take-over bid for Leeds United.

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Karl Albrecht Latest News

A tale of two Aldis: Divided in two, the German supermarket is still able to rule the aisles

Still open to this day, the first ever Aldi debuted in 1913 just to the east of the equator in Essen. Brothers Theo and Karl Albrecht took over the store from their father in 1945. A decade later, there were 100 branches of what was known as Albrecht ...
Posted: June 16, 2017, 10:23 pm

Karl Albrecht, a Founder of Aldi Stores, Dies at 94

Karl Albrecht, who with his brother Theo returned from Allied prisoner-of-war camps after World War II to find their mother’s corner shop still standing in bombed-out Essen, Germany, then proceeded to build it into the international grocery empire Aldi ...
Posted: July 22, 2014, 7:59 am

Karl Albrecht dies at 94; billionaire built Aldi food empire

Karl Albrecht, who died at 94,co-founded the German grocery retailer Aldi Karl Albrecht, a reclusive German billionaire who with his younger brother Theo turned his mother's corner store into a worldwide grocery empire, has died. He was 94. Albrecht's July ...
Posted: July 22, 2014, 2:58 am

Karl Albrecht, Germany’s richest man, dies at 94

Berlin: Karl Albrecht, the man credited with bringing discount stores to Europe with the no-frills Aldi supermarket chain, died aged 94 last Wednesday, Aldi said in a statement. Publicity-shy Albrecht co-founded privately held Aldi with brother Theo after ...
Posted: July 21, 2014, 10:52 am

Secretive Aldi family announce death of main heir to £11billion supermarket fortune... a month after he was buried

Father-of-five Berthold was the son of Theo Albrecht Snr, a devout Catholic who was one of Germany’s richest men when he died two years ago. His low-cost business model revolutionised the German grocery market - run alongside his brother Karl ...
Posted: December 7, 2012, 2:22 am
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