Page "Theo Albrecht" Paragraph 0

Theodor Paul Albrecht ( 28 March 1922, Essen, Rhine Province – 24 July 2010 ), generally known as Theo Albrecht, was a German entrepreneur, who in 2010 was ranked by Forbes as the 31st richest person in the world, with a net worth of $ 16. 7 billion.

He owned and was the CEO of the Aldi Nord discount supermarket chain.

In the US he owned the Trader Joe's specialty grocery store chain.

His brother Karl Albrecht owns the Aldi Süd discount supermarket chain.

The two chains originally were a single family enterprise until a friendly division of assets in 1960.

Aldi Süd operates the Aldi groceries in the United States.

So Aldi and Trader Joe's, while owned by the brothers, have separate and distinct ownership and operations.