Aldi Net Worth: Deep Discounts, Global Growth, and Family Divisions

Known for its low prices and streamlined operations, Aldi has emerged as one of the largest and most popular retailers in the US.

As of October 2024, Aldi has an estimated net worth of $50 billion, reflecting the success of its budget-friendly strategy.

At Business2Community, we’ve pulled on a range of sources to provide a detailed overview of Aldi’s net worth and growth from a small grocery store in Germany to a global small-box discount supermarket chain. Keep reading to discover the company’s key milestones, revenue, controversies, and more.

What is Aldi’s Net Worth?

Aldi has an estimated net worth of $50 billion. As of October 2024, Aldi was not publicly traded and had no plans for an IPO. Remaining private has preserved the family’s legacy and allowed the company to remain profitable without ceding corporate control to non-family members.

As a privately owned company, the degree to which Aldi’s net worth has changed over the years is difficult to determine. However, its self-funded expansion into several countries and steady growth spanning decades suggest that the company’s valuation has increased significantly over the last few decades.

Aldi Revenue

Since its founding and successful move into the US and other countries, Aldi’s has grown into a profitable global discount store chain. While Aldi’s financial records aren’t publicly available, the company occasionally discloses some high-level financial information.

In 2016, Aldi’s net global sales, including Aldi US and Aldi’s subsidiaries, exceeded $86 billion. By 2019, the company’s revenue had increased to $106 billion. That year, Aldi’s retail outlets in the US alone generated $31 billion.

In 2021, Aldi’s net sales were just under $134 billion. This marked the highest increase in revenue mainly due to the pandemic-induced spike in demand for low-cost groceries. This was also reflected in US net sales hitting $37 billion in 2021.

The upward trend continued with global net sales hitting $143 billion in 2022. Meanwhile, Aldi’s US revenue crossed the $40 billion mark.

That year, Aldi Nord and Aldi Süd (Nord and Süd translate to North and South in German) set new sales records. Aldi Nord achieved total sales of $32 billion, an increase of around 7.5%, while Aldi Süd, which includes the US, posted sales of $90 billion — an increase of 9.2%.

Building on its impressive revenue streak, Aldi’s net sales are expected to reach $164 billion and $171 billion in 2025 and 2026, respectively.

Who Owns Aldi?

Aldi grocery stores are owned by the Albrecht family through two separate branches: Aldi Nord (Aldi Einkauf GmbH & Co) and Aldi Süd (Aldi Süd Dienstleistungs-SE & Co).

In 1948, Brothers Karl and Theo Albrecht took over their mother’s grocery store in Germany. By 1963, the business had expanded to over 300 stores and taken on the Aldi name. It had also been split into two independent entities: Aldi Nord and Aldi Süd, based on a German legal structure that allowed independent companies to remain loyal to each other while reporting to a central board.

To keep the Aldi Empire in the family, the brothers transferred their assets to private foundations in 1973. Theo Albrecht formed three foundations: the Lukas, Jakobus, and Markus Foundation which owned 19.5%, 19.5%, and 61% of Aldi Nord, respectively.

Karl Albrecht formed the Siepmann-Stiftung and Carolus-Stiftung Foundations, which held a 50% stake each in Aldi Süd.

In 2010, Theo Albrecht died at 88, leaving Aldi Nord to his two sons, Theo Jr and Berthold. At the time of his death, Theo Albrecht’s net worth was around $16.7 billion.

In 2014, Karl Albrecht died at 94, leaving Aldi Sud to his son Karl Jr and daughter Beate Heister. Karl Albrecht’s net worth was around $26.1 billion at the time of his death.

Where is Aldi From?

Aldi originated in Essen, Germany. After 1961, the company was split into two separate companies, Aldi Süd and Aldi Nord.

Aldi Nord operated in the Northern part of Germany while Aldi Sud operated in the Southern part of Germany (hence the names).

While the companies have since expanded into other countries, the dividing line between the two companies, dubbed the “Aldi Equator” remains in Germany.

Headquartered in Essen, Aldi Nord now operates stores in Belgium, Netherlands, France, Luxembourg, Poland, Portugal and Spain. In the US, Aldi Nord operates under the Trader Joe’s brand.

Aldi Süd is headquartered in Mülheim and runs stores in Australia, Austria, China, Hungary, Ireland, Italy, Slovenia, Switzerland, the United Kingdom, and the US. In Austria and Slovenia, Aldi Sud operates stores under the Hofer brand.

As separate business entities, Aldi Nord and Aldi Sud have their respective operations and target markets. However, they are not rivals and still work together under a unified brand.

Who is the Aldi CEO?

The CEO of Aldi USA is Jason Hart. He joined the company in 1993 as a management trainee and eventually became the president of Aldi US alongside Charles Youngstrom and David Behm.

In 2015, Hart was promoted to CEO to help lead the company’s expansion plans in the US. His appointment came as part of a broader structural adjustment announced in November 2014. Hart took on the CEO role on April 1, 2015, while his colleagues, Charles Youngstrom and David Behm, stayed on as co-presidents to support him.

During his tenure, Hart has focused on keeping prices low, improving the Aldi shopping experience, and expanding the store’s product mix.

Aldi’s Company History

As of October 2024, the Aldi Group is a globally recognized discount supermarket chain with over 12,000 stores across several continents.

Unlike other retailers, Aldi distributes over 90% of its own private-label products, and stocks about 1,400 items versus the 40,000 stocked by traditional supermarkets such as Walmart. It has also simplified its operating system to keep its costs 50% lower than those of mainstream retailers.

Below, we track Aldi’s journey from its humble beginnings as a small store to a leading player in the retail industry.

1946 – 1959: The Albrecht Brothers Inherit the Family Business

After World War II, brothers Theo and Karl Albrecht returned to find the corner grocery store started by their mother Anna Albrecht in 1913 had survived the war. In 1948, they took over the business, turning it into a discount store.

The brothers’ strategy of stocking only non-perishables, keeping expenses low, and refusing to spend money on advertising or in-store decorations, meant they were able to deliver the lowest prices.

As the grocery store gained popularity with struggling locals, the brothers took the concept to 4 new locations. By 1950, the pair owned 13 stores in Ruhr Valley.

Initially, early stores stocked only a few essential items. The brothers had planned to expand the range as the business grew. However, they soon discovered that focusing on a small selection of everyday products could be to their advantage.

Karl Albrecht said of their strategy in 1953:

If we did not want to offer customers a wide range of products, then we had at least to offer them some other advantage. From that point on, we sold our products for decisively less.

In 1954, the brothers opened their first self-service store in Essen-Schonnebeck — the first of its kind in Germany. Under their careful and decisive leadership, their supermarket chain was over 100 stores strong by the end of 1955.

1960 – 1969: Aldi Süd and Aldi Nord are Formed

By 1960, the business had grown to 300 locations. While planning their next steps the brothers had an argument about whether or not to sell cigarettes. Theo believed it would boost sales, but Karl believed the move would attract shoplifters instead. As a result, the brothers split the company in half in 1961.

Karl led Aldi Sud, the cigarette-free division of stores located in Southern Germany, while Theo led Aldi Nord, which included all of the stores located in Northern Germany.

In 1962, the name Aldi (often stylized ALDI) was introduced as the shortened version of Albrecht Diskont or Albrecht Discount. By 1966, the company was officially financially and legally separated. The split was amicable, and the brothers managed the two divisions collaboratively under the Aldi brand name.

As separate legal entities, Aldi Nord and Aldi Süd stayed below the size threshold for mandatory public financial reporting under German law. This allowed the Albrecht brothers to grow their businesses without drawing attention from competitors.

From the late 1960s, Aldi expanded across Europe, starting with the acquisition of Austrian grocery chain Hofer. By 1968, the supermarket chain had more than 200 locations.

In 1976, Aldi Süd entered the US market, opening its first store in Iowa City. Aldi Nord also entered the US market three years later, through the acquisition of Trader Joe’s, a small California grocery chain.

The Aldi Süd division continued to expand, opening stores across the Midwest and Eastern US over the next few years.

In Germany, Aldi stores were increasingly ridiculed by competing retailers and brand manufacturers for being “cheap” and “hawking shoddy products”. However, the brothers stayed true to their frugal ways and the company’s sales, profits, and market share continued to rise.

Following German reunification and the fall of the Iron Curtain in the late 1980s and early 1990s, Aldi experienced rapid growth. By 1990, Aldi Süd entered the UK market, opening its first Aldi Süd store in Birmingham. The company also expanded into Ireland.

In 1993, Karl and Theo Albrecht retired as CEOs, leaving the companies under the control of the private family foundations (Lukas, Jakobus, Markus, Siepmann-Stiftung, and Carolus-Stiftung) they had formed in 1973.

Throughout the late 1990s, Aldi grew its footprint in the US to over 300 new stores and launched new divisions across the Midwest.

2000-2019: Aldi Expands in Key Markets

The early 2000s saw more growth for Aldi as the German supermarket chain expanded to Australia, Slovenia, and Hungary. The company also opened 220 new stores in the US and launched new divisions in Illinois, Michigan, North Carolina, Pennsylvania, and Tennessee.

By 2005, Aldi had expanded its presence to 671 stores in 25 US states and was generating revenues exceeding $3 billion annually.

Meanwhile, Aldi Nord found parallel success through its Trader Joe’s subsidiary, which operated over 200 US locations and generated estimated annual revenues of $2.1 billion.

Even during the challenging recession, Aldi US grew by 14%. The supermarket chain’s popularity also grew exponentially, primarily because the company’s low-cost structure allowed it to offer competitive prices during and after the 2008 recession.

Throughout the late 2000s, Aldi opened more than 340 new US stores as well as new divisions that expanded its presence in Connecticut, Texas, and California. During this period, Aldi only built new stores as fast as its profits allowed, so as not to take on debt.

In 2017, Aldi embarked on a five-year $5.3 billion growth plan. The company set out to open 800 new stores in the US and remodel older locations. That year, estimates placed Aldi’s US revenue at around $13.5 billion.

By 2018, the company had added more than 140 new stores, including first-time stores in Florida, Texas, and on the East Coast. While the company didn’t release any official figures, CEO Jason Heart said US sales had doubled since 2013.

Overall, Aldi Süd’s rapid growth in the US mirrored its successful entry into markets like Northern Italy, Ireland, Hungary, Switzerland, Australia, the UK, and even China.

‍2020-Present: Aldi Makes Ambitious Plans for the US

By 2020, Aldi’s rapid growth made it the third-largest grocer in the US based on store count, behind Walmart and Kroger.

In fact, between 2020 and 2023, Aldi grew faster than the next 40 largest grocery retailers in the US, achieving a 14% compound annual growth rate (CAGR) over the period.

In a landmark deal, Aldi acquired Winn-Dixie and Harvey supermarkets in 2023, adding 400 stores to its portfolio.

As of 2024, Aldi had over 2,000 stores across 36 US states. In March, Aldi announced plans to invest $9 billion to add 800 stores across the US by the end of 2028.

Through the five-year expansion, Aldi plans to deliver quality, low-priced products at a time when consumers are more focused than ever on saving money.

Aldi Controversies

As a global grocery chain, Aldi has faced various controversies related to its labor practices and food standards. However, none have been as substantial or damaging as the family’s highly publicized and drawn-out feud.

Following Berthold Albrecht’s death in 2012, his wife Babette Albrecht and their 5 adult children misappropriated over $150 million in company funds to finance their lavish lifestyles.

Before his death, Berthold had modified the governance structure of the Jakobus Foundation, reducing his family’s influence. However, Babette contested these changes in court, claiming that Berthold’s decision-making capacity was impaired when he made the changes.

Berthold’s brother Theo Jr. and his mother Cäcilie Albrecht strongly opposed both Babette’s extravagant spending and her decision to contest Berthold’s will and take the Foundation’s matters to court.

In 2016, at the height of the feud, Theo Jr. revealed that several crucial business decisions requiring approval from all three foundations had stalled due to opposition from Babette and her children.

When Cacilie died in November 2018, she excluded Babette and her 5 adult grandchildren from the will and any future roles in the company. She expressed anger over their behavior and accused them of dishonoring the Albrecht family philosophy of frugality. During this time, Aldi’s German operations posted major losses — a first for the chain.

In another shocking twist, Nicolay Albrecht, son of the late Berthold Albrecht, declared war on his own family in 2020, accusing his mother Babette and his siblings of defrauding the company.

The long-running family feud was finally resolved in 2023 when Theo Albrecht’s heirs agreed to consolidate Aldi Nord under a single-holding foundation. Ownership was then equally divided between the families of Theo Albrecht Jr. and his late brother Berthold.

What Can We Learn From Aldi?

By delivering quality products at low prices and focusing on a streamlined shopping experience, Aldi has positioned itself as a leader in the retail industry.

Aldi’s success highlights the power of meeting consumer needs. In post-war Germany and every other market the company has expanded into, Aldi has prioritized low prices to serve budget-conscious consumers.

The company’s no-frills discount supermarket concept has afforded Aldi major cost advantages and enabled it to outpace competitors. This underscores the value of a lean, cost-effective business model for driving sustainable growth.

Aldi’s private ownership structure, combined with the visionary leadership of its founders, has also played a crucial role in the company’s success. Recent family challenges underscore the importance of having structures in place, along with strategic planning and strong governance, to safeguard a company’s interests.

FAQs