Theo Albrecht Jr, the only son of Theo Albrecht, inherited a large fortune after the death of his father. As per Forbes estimates, his net worth now stand at $18.9 billion. His father, Theo Albrecht, was instrumental in building up a large grocery chain in Germany and rest of Europe in the 1960s. When he died all his wealth was transferred to his two sons, Theo Jr and Berthold. The latter, sadly, breathed his last in November 2012 leaving behind his wife and children (5).
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Both the brothers inherited Aldi Nord and Trader’s Joe which is basically a discount grocery retail store. These 2 chains together have more than 5,000 stores across Europe and US and they earned an estimated $35 billion in 2011. They own Trader’s Joe because Theo Sr had bought the store way back in 1971.
All the businesses of Theo Albrecht Jr & Family are controlled by a family foundation which ensures that the company remains intact and it is not split up into different branches of the Albrecht family. The foundation only gives out dividends to the family members and all the members of the family still enjoy a stake in the different companies. Surely this is a unique way of keeping the family business intact without meddling too much in its day-to-day operations.