Theo Albrecht

Theodor Paul Albrecht (born 28 March 1922), generally known as Theo Albrecht, is a German entrepreneur, who in 2007 was ranked by Forbes magazine as the 20th richest person in the world, with a net worth of $23.5 billion. He owns and was the CEO of the Aldi Nord discount supermarket chain. In the US he owns the Trader Joe's specialty grocery store chain. His brother Karl Albrecht owns the Aldi Sьd discount supermarket chain. The two chains originally were a single family enterprise until a friendly division of assets in 1960. Aldi Sьd 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.

In 1971, Theo was kidnapped for 17 days. A $3 million ransom was paid for his release. Both Albrecht brothers are reclusive and little is known about their private life. The last published photo of Theo Albrecht dates to 1971, one day after his kidnapping. Another photo of the two Albrecht brothers together has been taken in 1987 by the journalist Franz Ruch.

After World War II Theo and his older brother, Karl, transformed their mother's corner grocery store into discount supermarket giant Aldi, which now has more than 7,000 stores and $45 billion in sales. They eventually split ownership and management of the group into the north and south regions. Theo still manages Aldi's less profitable northern chain with the help of his two sons. In the U.S. his holdings include gourmet food retailer Trader Joe's and an 8% stake in Albertsons supermarkets. Albertsons announced recently that it was being sold to an investor group made up of Supervalu, CVS and Cerberus; the deal has not yet been completed. After being kidnapped for 17 days in 1971, he has understandably shunned the limelight. Little is known about him but rumor has it that he is very thrifty, collects old typewriters and loves to golf.