What is Karl Albrecht's Net Worth?
Karl Albrecht was a reclusive German billionaire tycoon with a net worth of $26.1 billion at the time of his death in 2014. He was the richest person in Germany during his lifetime. Karl co-founded the Aldi grocery store chain with his brother, Theo Albrecht, transforming their mother's small store into a global retail empire.
The Rise of Aldi
Born in Essen, Germany, in February 1920, Karl Albrecht served in the Wehrmacht during World War II. After the war, he and his brother took over their mother's grocery store, opening the first Aldi (Albrecht-Discount) in 1961. The brothers divided the business: Karl managed Aldi Sud (South) while Theo handled Aldi Nord (North).
Leadership and Legacy
Karl Albrecht became chairman of the board of Aldi in 1994 and held the position until 2002. Despite the company's massive growth, Karl remained notoriously secretive, never granting public interviews. A study in 2002 revealed that over 80% of Germans shopped at Aldi, demonstrating the company's dominance in the retail sector.
Personal Life
Karl lived a private life in Essen, where he enjoyed playing golf at the Oschberghof course he built in 1975. His brother Theo passed away in 2010. Karl Albrecht died on July 16, 2014, at the age of 94.
