Theo and Karl Albrecht Aldi

Aldi’s is a super marker founded in the year 1948 by Co-Chairman Karl and Theo Albrecht.  It is said that Aldi’s is the first real discount store.  Aldi’s is a German Multi-National mini market.  Since 2006, the chain of Aldi’s has over 5,000 supermarkets all with low prices on limited ranges of goods.  Aldi’s can be found in sixteen countries.

Theodor Paul Albrecht (Theo Albrecht) was born on March 28, 1922 and is a German entrepreneur.  He was the 22nd richest person in the world ($18 billion). Theo is the CEO of Aldi, he and his brother Karl own the discount supermarket chain of Aldi.

Karl Hans Albrecht was born in Essen, Germany in the year of 1920 and is a German entrepreneur also.  He founded the discount supermarket chain of Aldi with his brother Theo.  He is also among the richest men in the world.  An estimated net worth $17.0 billion with Forbes in 2006, the Karl is the wealthiest man in Germany.  Karl had also served in the German army during World War II.

The Albrecht brothers were raised in modest circumstances; their father had been employed as a minor and was later a baker’s assistant.  Their mother had run a small grocery store in Schonnebeck in the workers corner.  While Karl worked in a delicatessen, Theo completed an apprenticeship for his mother and her store.  The brothers had soon taken over their mothers store in the year of 1946.  The first Aldi store was opened in 1961 called Albrecht-Discount. The operations of Aldi’s were divided between the two brothers.

Little is known about Karl Albrecht because he had withdrawn himself from the public life.  Forbes magazine has said that he is married and has one or two children.  Karl Albrecht reportedly lives somewhere in Switzerland.  He is a big fan of golf and he plays in his own personal golf court we he had built in 1976 and also raises orchids.

In the year of 1944, Karl had removed himself from the daily operations of Aldi and took the chairman position of the board.  He had also relinquished his position of the chairman of the board at the beginning of the year 2002 thereby completely ceding control of the firm.  The business today is no longer run by the Albrecht family.

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