Karl Albrecht
From Wikipedia, the free encyclopedia
Karl Hans Albrecht (born 1920 in Essen, Germany) 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 of $17.0 billion (Forbes,2006). Albrecht is the wealthiest man in Germany.
Karl and Theo Albrecht were raised in modest circumstances. 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. Theo completed an apprenticeship in his mother’s store, while Karl worked in a delicatessen. Karl also served in the German Army during World War II. After the end of World War II, the brothers took over their mother’s business (1946). The first Aldi (Albrecht-Discount) was opened in 1961.
Aldi’s operations were later divided between the brothers, with Karl taking control of the more profitable Aldi Süd (South), and Theo managing Aldi Nord (North).
Because Karl Albrecht has withdrawn himself from public life, little is known about him. He is married and has either one or two children. Forbes magazine reports that he has two children, neither of whom are employed by Aldi. The German language version of Wikipedia claims he has only one child. Karl Albrecht reportedly lives today in Switzerland. He is a fan of golf, and plays at his personal golf course, the Öschberghof, which he built in 1976. He also raises orchids.
In 1994, Karl Albrecht removed himself from the daily operations of Aldi Süd 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.
