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Reclusive Aldi co-founder dead: report
Submitted by Khushi in Business, on the 28th of July, 2010 at 03:49:59am.
Jul 28, 2010
Theo Albrecht, the joint founder of budget supermarket giant Aldi last seen in public after his release from kidnap nearly 40 years ago, has died aged 88, news magazine Spiegel said on Wednesday.
The publicity-shy entrepreneur died on Saturday in the western German city of Essen, Spiegel said, after a long illness.
According to Manager Magazin's annual rich list, the Albrecht brothers, Karl and Theo, who co-founded Aldi, were the two wealthiest people in Germany, with fortunes of 17.35 billion euros ($A25.02 billion) and 16.75 billion euros ($A24.16 billion) respectively.
Very little is known about the two reclusive billionaires, with Theo's last public appearance dating from 1971, shortly after his release after 17 days by kidnappers who were reportedly paid a three million dollar ransom.
Theo Albrecht, the joint founder of budget supermarket giant Aldi last seen in public after his release from kidnap nearly 40 years ago, has died aged 88, news magazine Spiegel said on Wednesday.
The publicity-shy entrepreneur died on Saturday in the western German city of Essen, Spiegel said, after a long illness.
According to Manager Magazin's annual rich list, the Albrecht brothers, Karl and Theo, who co-founded Aldi, were the two wealthiest people in Germany, with fortunes of 17.35 billion euros ($A25.02 billion) and 16.75 billion euros ($A24.16 billion) respectively.
Very little is known about the two reclusive billionaires, with Theo's last public appearance dating from 1971, shortly after his release after 17 days by kidnappers who were reportedly paid a three million dollar ransom.
