Theo Albrecht Jr & family

Theo Albrecht Jr. and the heirs of his brother, Berthold, inherited one of the world's great retail fortunes.

From a corner grocery store in Essen, opened in 1913, their father, Theo Sr., and his brother, Karl Sr., built their empire after World War II.

Propagating the discount revolution in German retailing, they ran their Aldi supermarket chain based on a low-price strategy similar to Walmart.

In 1961, the brothers split ownership: Karl Sr. took the stores in southern Germany, plus rights to the Aldi brand in the U.K., Australia and the U.S.

Theo Sr. got the stores in northern Germany and the rest of Europe. In 1971, he bought U.S. grocery discounter Trader Joe's.