Wednesday, 28 March 2012

10. Karl Albrecht

Karl Albrecht

Net Worth
$25.4 B As of March 2012
  Karl Albrecht
At a Glance
  • Age: 92
  • Source of Wealth: Aldi, self-made
  • Residence: Mulheim an der Ruhr, Germany
  • Country of Citizenship: Germany
  • Marital Status: Married
  • Children: 2
Forbes Lists
Profile:
Karl Albrecht's $39 billion (estimated sales) discount supermarket giant, Aldi Sud, has some 4,500 stores, including 1,200 across 32 U.S. states. It opened its first New York City locations in 2011, one in Queens and another in the Bronx. To keep costs low, Aldi stores do not accept credit cards. He and his late brother Theo got their start at their mother's corner grocery store after World War II and turned it into a large retail chain based on low prices in a no-frills setting. They split ownership in 1961; Karl took the more profitable stores in southern Germany, plus the rights to the brand in the U.K., Australia and the U.S. Theo, who died in 2010, got northern Germany and the rest of Europe; Theo's sons are also billionaires. [...] more

 

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