Theodor "Theo" Albrecht Jr. (born 1950) is a German billionaire businessman, the owner of

Trader Joe's Trader Joe's is an American chain of grocery stores headquartered in Monrovia, California. The chain has over 569 stores across the United States. The first Trader Joe's store was opened in 1967 by founder Joe Coulombe in Pasadena, California ...

and

Aldi Aldi (stylised as ALDI) is the common company brand name of two German multinational family-owned discount supermarket chains operating over 10,000 stores in 20 countries. The chain was founded by brothers Karl and Theo Albrecht in 1946, when t ...

Nord, and the son of Aldi's co-founder. As of July 2021, Albrecht's net worth is estimated at US$20.6 billion.

Early life

Albrecht was born in

Bremen Bremen (Low German also: ''Breem'' or ''Bräm''), officially the City Municipality of Bremen (german: Stadtgemeinde Bremen, ), is the capital of the German state Free Hanseatic City of Bremen (''Freie Hansestadt Bremen''), a two-city-state consis ...

, West Germany in 1950, the son of

Theo Albrecht Theodor Paul Albrecht (; 28 March 1922 – 24 July 2010) 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 worl ...

, the co-founder of the supermarket chain

Career

In 2010, his father Theo Albrecht died, leaving the ownership of the German supermarket chain Aldi Nord and US supermarket chain Trader Joe's to his two sons, Theo Jr. and Berthold, but Berthold died in 2012. Theo Albrecht Jr. and the heirs of his brother Berthold inherited the fortune, which originally grew from a corner grocery shop opened back in 1913.

Wealth

Albrecht's estimated net worth is US$20.6 billion, as of July 2021, according to ''

Forbes ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also re ...

''.

Personal life

Albrecht lives in

Mülheim an der Ruhr Mülheim, officially Mülheim an der Ruhr () and also described as ''"City on the River"'', is a city in North Rhine-Westphalia in Germany. It is located in the Ruhr Area between Duisburg, Essen, Oberhausen and Ratingen. It is home to many compan ...

, Germany, and has one child.

References

{{DEFAULTSORT:Albrecht, Theo 1950 births Living people German billionaires German businesspeople in retailing 20th-century German businesspeople 21st-century German businesspeople Trader Joe's Aldi people Businesspeople from Bremen