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Because Karl Albrecht has withdrawn himself from public life, little is known about him.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

Karl Albrecht dies at 94; billionaire built Aldi food empire

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 16 death in Essen ...
Posted: July 22, 2014, 7:41 am

Karl Strauss Takes Home a Bronze at World Beer Cup and a Gold at LA International Beer Competition

Sean Albrecht, Head Brewer, Karl Strauss Brewing Company The company is also celebrating a fresh gold medal win for their Two Tortugas Belgian Quad earned at the 2018 Los Angeles International Beer Co...
Posted: May 10, 2018, 5:00 pm

Karl Albrecht, reclusive founder of Aldi supermarket, has died aged 94

ALDI STORES IRELAND confirmed this evening that the German company’s famously reclusive founder, Karl Albrecht, has died at the age of 94. Albrecht died on 16 July, but was buried earlier today in a f...
Posted: September 29, 2014, 5:14 am
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