The Albrecht family founded Aldi as a discount retailer in the aftermath of World War II, as Germany was rebuilding itself. Aldi, a privately held company, was set up as a discount supermarket chain selling quality groceries at low prices—a concept not dissimilar to the “everyday low prices” model that is the cornerstone of Walmart’s success in the U.S.

Today, the Aldi empire stretches from its humble origins more than a century ago in Western Germany to the U.S. and other countries in Asia and Europe. Its founders’ separate operations include the Aldi stores in the U.S. and Trader Joe’s.

Here’s how wealthy the Albrecht family is and how they made their money.

Who are the Albrecht family?

Aldi’s roots trace back to matriarch Anna Siepmann Albrecht, who opened a small grocery store in a suburb of Essen, which is in western Germany, in 1913, according to Aldi’s history page. Anna’s husband Karl Albrecht was a miner, and the couple had two sons, Theodor Paul (who also went by the shortened name Theo) and Karl Hans.

Related: Aldi makes major move targeting rivals Kroger, Trader Joe’s

The growth of the Albrechts’ grocery empire

After World War II, the two sons—who served in different battlefronts—inherited Anna’s store, which had survived bombings from Allied forces. In 1946, the two brothers, who were known for their frugality, founded Albrecht Diskont (German for discount) as a “no-frills” discount retailer that sold only non-perishable goods at affordable prices from a small, nondescript shop.” By 1955, there were more than 100 stores across Germany.

In 1960, Albrecht Diskont shortened its name to ALDI, and a year later, in 1961, it was split into two entities: ALDI Nord (North), controlled by Theodor, and ALDI Sud (South), controlled by Karl. The two brothers—raised Catholic—reportedly had a disagreement over the sale of cigarettes and decided to go their separate ways.

Karl took the stores in southern Germany, plus rights to the Aldi brand in the U.K., Australia, and the U.S., while Theodor got the stores in northern Germany and the rest of Europe, according to Forbes.

Aldi

Aldi revolutionized the grocery supermarket business with its discount business model, and in 1968, Aldi South embarked on international operations with its first store outside Germany in neighboring Austria. In 1976, it entered the U.S. market with its first store in Iowa, and it later set up its headquarters in Batavia, Illinois. As of January 2026, Aldi operated more than 2,400 stores in 38 states with more than 45,000 employees.  

Aldi South’s ownership is now controlled by Karl’s heirs, including his son, Karl Jr., and daughter, Beate.

Trader Joe’s

Trader Joe’s was founded in Pasadena, California, by entrepreneur Joe Coulombe in 1967. In 1979, Aldi North, under Theodor Albrecht, bought Trader Joe’s and maintained the same concept envisioned by Coulombe: a niche neighborhood grocery store offering quality food products at reasonable prices. 

By early 2026, Trader Joe’s reportedly had more than 600 stores across the U.S. and over 50,000 employees.Aldi North and Trader Joe’s are now controlled by Theodore Albrecht Jr. and his brothers.

More on Trader Joe’s and Aldi:

• Trader Joe’s secret to getting customers to buy new items
• Aldi adds convenient new perk many customers can’t afford
• Trader Joe’s just keeps growing — new locations revealed

What is the net worth of the Albrecht family in 2026?

The two Albrecht brothers have died, but their descendants live on, and some have taken executive positions on either branch of the Aldi business. Theo died at 88 years old on July 24, 2010, while Karl died at 94 on July 16, 2014.

Karl Albrecht Jr., son of the elder Karl, and his family have a combined net worth of $16.3 billion as of January 2026, according to Forbes. His sister, Beate Heister, also has a net worth of $16.3 billion, based on Forbes’ estimate.

Theodore Jr., son of Theodor, and his family have a combined net worth of $16.2 billion as of January 2026, according to Forbes. The heirs of his late brother, Berthold, who died in 2012, reportedly also have a combined net worth in the billions of dollars.

How does the Albrecht family spend their money?

The Albrechts have largely kept their lives private and have maintained a low profile. 

While cousins Theodore Jr. and Karl Jr. were reportedly known to have a frugal lifestyle similar to their namesake fathers and grandmother, it may be a different story for their heirs.

In 2020, Berthold’s son, Nicolay, accused his mother, Babette, three of his sisters, and their lawyer of improperly withdrawing millions of euros from one of the trusts that held the family fortune, according to The Guardian. That money was reportedly used to fund a lavish lifestyle, contrary to the family’s traditionally frugal spending habits.