Theodor Paul Albrecht (28 March 1922 – 24 July 2010)[4] was a German entrepreneur. He established the discount supermarket chain Aldi with his brother Karl Albrecht. In 2010, Theo was ranked by Forbes as the 31st richest person in the world, with a net worth of $16.7 billion .[5]
Business career
Albrecht learned the grocery business from his mother, in order to escape the fate of his father, who was the miner. In 1946, he and his brother Karl developed Albrecht Diskont, with the motto "the best quality at the lowest price", now one of Europe's largest chains of supermarkets, known by the acronym Aldi.[6] In 2014, Forbes estimated Albrecht's fortune at approximately £11 billion .[7]