Karl Albrecht
Overview
 
Karl Hans Albrecht is a German
Germans
The Germans are a Germanic ethnic group native to Central Europe. The English term Germans has referred to the German-speaking population of the Holy Roman Empire since the Late Middle Ages....

 entrepreneur who founded the discount supermarket
Supermarket
A supermarket, a form of grocery store, is a self-service store offering a wide variety of food and household merchandise, organized into departments...

 chain Aldi
ALDI
ALDI Einkauf GmbH & Co. oHG, doing business as ', short for "Albrecht Discount", is a discount supermarket chain based in Germany...

 with his brother Theo
Theo Albrecht
Theodor Paul Albrecht , generally known as Theo Albrecht, was a German entrepreneur, who in 2010 was ranked by Forbes as the 31st richest person in the world, with a net worth of $16.7 billion. He owned and was the CEO of the Aldi Nord discount supermarket chain. In the US he owned the Trader Joe's...

. He is among the richest men in the world, with an estimated net worth
Net worth
In business, net worth is the total assets minus total outside liabilities of an individual or a company. For a company, this is called shareholders' preference and may be referred to as book value. Net worth is stated as at a particular year in time...

 in 2011 of $25.5 billion according to Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...

, which ranks him 12th in its 2011 list of billionaires - making him the oldest billionaire in the Top 20 list. Albrecht is the wealthiest man in Germany.
Karl and Theo Albrecht were born and raised in modest circumstances in Essen
Essen
- Origin of the name :In German-speaking countries, the name of the city Essen often causes confusion as to its origins, because it is commonly known as the German infinitive of the verb for the act of eating, and/or the German noun for food. Although scholars still dispute the interpretation of...

, Germany.
Encyclopedia
Karl Hans Albrecht is a German
Germans
The Germans are a Germanic ethnic group native to Central Europe. The English term Germans has referred to the German-speaking population of the Holy Roman Empire since the Late Middle Ages....

 entrepreneur who founded the discount supermarket
Supermarket
A supermarket, a form of grocery store, is a self-service store offering a wide variety of food and household merchandise, organized into departments...

 chain Aldi
ALDI
ALDI Einkauf GmbH & Co. oHG, doing business as ', short for "Albrecht Discount", is a discount supermarket chain based in Germany...

 with his brother Theo
Theo Albrecht
Theodor Paul Albrecht , generally known as Theo Albrecht, was a German entrepreneur, who in 2010 was ranked by Forbes as the 31st richest person in the world, with a net worth of $16.7 billion. He owned and was the CEO of the Aldi Nord discount supermarket chain. In the US he owned the Trader Joe's...

. He is among the richest men in the world, with an estimated net worth
Net worth
In business, net worth is the total assets minus total outside liabilities of an individual or a company. For a company, this is called shareholders' preference and may be referred to as book value. Net worth is stated as at a particular year in time...

 in 2011 of $25.5 billion according to Forbes
Forbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...

, which ranks him 12th in its 2011 list of billionaires - making him the oldest billionaire in the Top 20 list. Albrecht is the wealthiest man in Germany.

Biography

Karl and Theo Albrecht were born and raised in modest circumstances in Essen
Essen
- Origin of the name :In German-speaking countries, the name of the city Essen often causes confusion as to its origins, because it is commonly known as the German infinitive of the verb for the act of eating, and/or the German noun for food. Although scholars still dispute the interpretation of...

, Germany. Their father was employed as a miner
Miner
A miner is a person whose work or business is to extract ore or minerals from the earth. Mining is one of the most dangerous trades in the world. In some countries miners lack social guarantees and in case of injury may be left to cope without assistance....

 and later as a baker
Baker
A baker is someone who bakes and sells bread, Cakes and similar foods may also be produced, as the traditional boundaries between what is produced by a baker as opposed to a pastry chef have blurred in recent decades...

’s assistant. Their mother had a small grocery store in the worker’s quarter of Schonnebeck, a suburb of Essen. Theo completed an apprenticeship
Apprenticeship
Apprenticeship is a system of training a new generation of practitioners of a skill. Apprentices or protégés build their careers from apprenticeships...

 in his mother’s store, while Karl worked in a delicatessen
Delicatessen
Delicatessen is a term meaning "delicacies" or "fine foods". The word entered English via German,with the old German spelling , plural of Delikatesse "delicacy", ultimately from Latin delicatus....

 shop. Karl also served in the Nazi German Army
Wehrmacht
The Wehrmacht – from , to defend and , the might/power) were the unified armed forces of Nazi Germany from 1935 to 1945. It consisted of the Heer , the Kriegsmarine and the Luftwaffe .-Origin and use of the term:...

 during World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...

. After the war, the brothers took over their mother's business. The first Aldi (Albrecht-Discount) was opened in 1961.

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).

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

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 are employed by Aldi. He reportedly lives in Essen, as did his brother Theo until his death. He is a fan of golf
Golf
Golf is a precision club and ball sport, in which competing players use many types of clubs to hit balls into a series of holes on a golf course using the fewest number of strokes....

, and plays at his personal golf course
Golf course
A golf course comprises a series of holes, each consisting of a teeing ground, fairway, rough and other hazards, and a green with a flagstick and cup, all designed for the game of golf. A standard round of golf consists of playing 18 holes, thus most golf courses have this number of holes...

, the Öschberghof, which he built in 1976. He also raises orchids. It is rumored that he collects antique typewriters.

External links

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