Karl Albrecht facts for kids

Karl Hans Albrecht (German: [ˈalbʁɛçt]; 20 February 1920 – 16 July 2014) was a very successful German businessman. He is famous for starting the popular discount supermarket chain called Aldi with his brother, Theo. For many years, he was known as the richest person in Germany. In 2014, he was ranked among the wealthiest people in the world.

The Story of Karl Albrecht and Aldi

The first Aldi store in Schonnebeck, Essen

Karl and Theo Albrecht grew up in Essen, Germany. Their family was not wealthy. Their father worked as a miner and later helped out at a bakery. Their mother, Anna, ran a small grocery store in their neighborhood.

Theo learned about business by working in his mother's shop. Karl also worked in a special food shop called a delicatessen. During World War II, Karl served in the German army, known as the Wehrmacht. He was hurt while fighting on the Eastern Front.

After the war, the brothers took over their mother's grocery business. They worked together to expand it.

How Aldi Was Born

In 1960, Karl and Theo had a big disagreement. They couldn't agree on whether to sell cigarettes in their stores. Theo wanted to sell them, but Karl thought they would attract shoplifters.

Because of this difference, they decided to split their business. Theo took all the stores north of the Ruhr river. Karl kept all the stores south of the Ruhr.

In 1962, they officially launched their new discount supermarket chain. They called it Aldi, which is short for "Albrecht Discount." The two parts of the company became known as Aldi Nord (North) and Aldi Süd (South).

Aldi around the world, (blue = Aldi north, orange = Aldi south)

Stepping Back from Business

In 1994, Karl Albrecht decided to step back from the daily running of Aldi Süd. He became the chairman of the company's board. This meant he still had an important role but wasn't involved in everyday decisions.

By 2002, he completely gave up his position. He no longer had any control over the company. Today, none of Karl Albrecht's family members manage the Aldi Süd business.

Karl Albrecht's Private Life

Karl Albrecht was a very private person. He rarely appeared in public, especially in his later years. Because of this, not much is known about his personal life.

He had two children, but neither of them worked for Aldi. Karl Albrecht lived in Essen, the same city where his brother Theo lived until he passed away.

Karl enjoyed playing golf. He even built his own golf course called the Öschberghof in 1976. He also had a unique hobby: he loved to grow orchids, which are beautiful flowers.

Karl Albrecht's Wealth

Karl Albrecht was one of the richest people in the world. In 2014, his estimated wealth was about $23.14 billion. This is a huge amount of money!

In 2004, Forbes magazine listed him as the third richest man globally. By 2012, he was ranked tenth on their list of billionaires. He was also the oldest person in the top 20 richest people that year.

When he died, Karl Albrecht was known as the richest person in Germany. He was also the fourth richest person in all of Europe.