Rank #178
Theo Albrecht Jr & family
Net worth $16.3B
Aldi, Trader Joe's · Germany
- Born
- Jan 01, 1951
- Age
- 75
- Source
- Aldi, Trader Joe's
- Residence
- Mulheim an der Ruhr
- Citizenship
- Germany
- Marital status
- Children
- 1
- Education
Net worth over time
Biography
- Theo Albrecht Jr. is an heir to Aldi, one of the world's great retail fortunes, along with the heirs of his brother, Berthold.
- Aldi was founded in 1913 by his father Theo Sr. and uncle, Karl Sr. as a corner grocery store in Essen, that they began expanding 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.