What is Karl Albrecht's Net Worth?
Karl Albrecht was a reclusive German billionaire tycoon who had a net worth of $26.1 billion dollars at the time of his death in 2014. During his life, Karl Albrecht was the richest person in Germany. He was the co-founder of the Aldi chain of grocery stores along with his brother Theo. The brothers created the chain after they took over their mother's small neighborhood grocery. He relinquished his position at Aldi in 2002 at the age of 82. Albrecht was notoriously secretive and never gave a single public interview during his lifetime. Karl Hans Albrecht was born in Essen, Germany in February 1920. He served in the Wehrmacht during World War II. After the war was over he and his brother took over for their mother's store.
They opened up the first Aldi (Albrecht-Discount) in 1961. Karl took control of Aldi Sud (South), and Theo managed Aldi Nord (North). Karl became chairman of the board of Aldi in 1994. He relinquished the position in 2002 and none of the Albrecht brothers are associated with Aldi to this day. A 2002 study found that over 80% of Germans shopped at Aldi. Up until his death, Karl Albrecht lived in Essen and played golf at the course he built in 1975, the Oschberghof. His brother Theo passed away in 2010. Karl Albrecht died on July 16, 2014 at the age of 94.
