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Because Karl Albrecht has withdrawn himself from public life, little is known about him.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, 10:25 pm

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

Inside the Leadership Style Used By the Best-Performing CEO In the World

Here are four discerning characteristics that determine if a leader is acting with humility (according to emotional and social intelligence expert Dr. Karl Albrecht): 1. You don't have an impulse to outdo others or feel like you have to protect perceived ...
Posted: December 13, 2017, 3:06 am
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