Karl Albrecht

Karl Albrecht
Born	Karl Hans Albrecht (1920-02-20) 20 February 1920 Essen, Germany
Residence	Mulheim an der Ruhr, Germany[1]
Ethnicity	German
Citizenship	German
Occupation	Entrepreneur
Known for	Co-founder of Aldi
Net worth	US$25.4 billion (2012)[1]
Religion	Catholic[2][3]
Spouse(s)	Married[1]
Children	Two[1]
Relatives	Theo Albrecht (brother, deceased) Theo Albrecht, Jr (nephew) Berthold Albrecht (nephew, deceased)

Karl Hans Albrecht (born 20 February 1920) is a German entrepreneur who founded the discount supermarket chain Aldi with his brother Theo. As of October 2012, Albrecht is listed as one of the richest people in the world with an estimated net worth of US$22.6 billion.^[4] Previously, Forbes listed him as one of richest men in the world, with an estimated net worth in 2011 of US$25.4 billion, which ranks him 10th in its 2012 list of billionaires – making him the oldest billionaire in the Top 20 list.^[1] Albrecht is the richest person in Germany, and the fourth-richest in Europe.^[5]

Biography

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.^[6] 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 Süd (South), and Theo managing Aldi Nord (North).^[6]

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.

Personal life

Little is known about Karl Albrecht, a very reclusive man who has not taken part in public life for several years. 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 Öschberghof, which he built in 1976. He also raises orchids.^[6] It is rumored that he collects antique typewriters and has made a take-over bid for Leeds United.

See also

• List of billionaires

References

External links

• Forbes topic page on Karl Albrecht

Authority control VIAF: 69866698 GND: 124640923

v t e 2012 world's richest people Slim Gates Buffett Arnault Ortega Ellison Batista Persson / Li Albrecht

Persondata
Name	Albrecht, Karl
Alternative names
Short description	Entrepreneur
Date of birth	20 February 1920
Place of birth	Essen, Germany
Date of death
Place of death