Dieter Schwarz controls the Schwarz Group, the largest closely held
discount grocer in Europe, which operates the Lidl and Kaufland
supermarket chains. He controls the companies through the Dieter Schwarz Stiftung, a limited liability company with a charitable purpose. The group has more than 10,000 stores in Europe and generated $83 billion in 2011 sales.
All of the U.K.’s four big food retailers lost market share for the first time since records began in the last three months, emphasizing the shift toward discounters Aldi and Lidl, and the upscale Waitrose chain.
On a recent Saturday afternoon at a Lidl supermarket in London, a 500-gram slab of minced beef was on sale for 2 pounds ($3.21), half the price of the same product at a Sainsbury Local store a few blocks away.
William Morrison Supermarkets Plc, the smallest of the U.K.’s four main grocery chains, reported its seventh straight quarter of declining same-store sales after losing more ground to discounters such as Aldi and Lidl.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.