Almost all of Albrecht's fortune is owned through closely held grocer Aldi Sued, which operates about 4,500 stores worldwide and generates $41 billion in estimated annual revenue. He co-founded the discount supermarket chain Aldi with brother Theo in 1960. The brothers split the firm in two. Theo Albrecht's sons own Aldi Nord.
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The 100 wealthiest people on the planet added $5.9 billion to their collective net worth this week as global markets inched upward amid concerns about U.S. budget negotiations and slowing economic growth in Germany.
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The death of Berthold Albrecht, whose inheritance of half of closely held supermarkets Aldi Nord and Trader Joe’s from his father put him among the world’s 100 wealthiest people, may make his wife and children billionaires, according to a lawyer who advises on German foundation law.
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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.
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As Chancellor Angela Merkel urges European leaders to accept austerity, German shoppers have had enough of it from Aldi.
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Aldi Group co-founder Theo Albrecht died July 24, Aldi Nord said in a faxed statement today.
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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.
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