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Because Karl Albrecht has withdrawn himself from public life, little is known about him.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

Aldi stores co-founder, billionaire Karl Albrecht, dead at 94

Karl Albrecht, the reclusive businessman who became one the world's wealthiest people after co-founding the Aldi discount supermarket chain after World War II, has died. He was 94. He died in Essen, Germany, on July 16 and was buried in a private ceremony ...
Posted: July 21, 2014, 6:24 am

The story of Karl Albrecht, the man who destroyed Tesco

A 1930 image of the Karl Albrecht Spiritousen and Lebensmittel shop, Essen. The shop was opened by Karl and Theo Albrecht’s mother; the brothers later founded Aldi Getty Images The removal this week of Tesco chief executive Philip Clarke more than ...
Posted: July 22, 2014, 9:23 am

Few Democrats running for Legislature match GOP fundraising

His Republican opponent Tim Quinn raised about $6,900. In rural south-central Utah’s House District 70, Democrat William Groff raised $7,400 while Republican Karl Albrecht raised $4,500. In the Salt Lake City metro-area District 34, Republican Macade ...
Posted: October 7, 2016, 2:40 pm
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