Theo Albrecht Jr & family
$16.3B
Born
Jan 01, 1951
Age
74
Source of Wealth
Aldi, Trader Joe's
Residence
Mulheim an der Ruhr,
Citizenship
Germany
Marital Status
Children
1
Education
- Theo Albrecht Jr. and the heirs of his brother, Berthold, inherited one of the world's great retail fortunes.
- From a corner grocery store in Essen, opened in 1913, their father, Theo Sr., and his brother, Karl Sr., built their empire after World War II.
- Propagating the discount revolution in German retailing, they ran their Aldi supermarket chain based on a low-price strategy similar to Walmart.
- In 1961, the brothers split ownership: Karl Sr. took the stores in southern Germany, plus rights to the Aldi brand in the U.K., Australia and the U.S.
- Theo Sr. got the stores in northern Germany and the rest of Europe. In 1971, he bought U.S. grocery discounter Trader Joe's.
- Little is known about the personal lives of family members. Theo Jr. sits on the board of the family foundation.
- His mother, Cecilie, died in November 2018 at age 92.
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