Karl Hans Albrecht was born in Germany on 20 February 1920. He and his brother Theo were brought up in humble background by their mother in Essen, Germany. Theo worked as an apprentice in the mother’s store and Karl joined the German Army in World War II.

After the end of the War both the brothers took over their mothers business. ALDI is short form of ALbrecht Discount. This is a chain of discount stores in Germany. The chain is in the North was taken up by Theo and the chain in the south was taken on by Karl. The north region has 2500 stores in North and Eastern Germany and the south region has 1600 stores in South and West Germany. The international chain of Aldi North operates in Denmark, France, the Benelux countries, the Iberian peninsula and Poland and the Aldi South operates in Ireland, the United Kingdom, Austria and Slovenia, the United States and Australia.

The Aldi stores have thrived all over the World and made huge profits. The Aldi also have stuck to old German business practices. Some of them include not accepting Credit Cards and charging coins for use of trolleys at the stores. The coins are returned after the customers return the trolley at the place from where they took it.

Karl is 86 years old and stays in Essen. His net worth is estimated at $ 17 billion. He has a personal golf course.