Theo Albrecht facts
While investigating facts about Theo Albrecht, I found out little known, but curios details like:
Theo Albrecht, co-founder of the discount store Aldi, negotiated his own ransom when he was kidnapped and held for 17 days; he later won tax relief on the ransom payment claiming it was a business expense.
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Two brothers had a grocery chain together. In 1960, one Albrecht brother, didn't want to continue to sell cigarettes in their stores. The other did. They politely parted ways and continued independently. Both expanded to the USA, Karl with Aldi: against cigarettes and Theo opening Trader Joe's.
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In my opinion, it is useful to put together a list of the most interesting details from trusted sources that I've come across. Here are 6 of the best facts about Theo Albrecht I managed to collect.
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In 1971, Theo Albrecht (co-owner of Aldi) was kidnapped and released for a ransom of $4 million that he himself negotiated. He then received tax relief on the payment, claiming it as a business expense.
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The brothers Karl and Theo Albrecht, founders of the Aldi Supermarket chain, split the company in 1960 over a dispute whether they should sell cigarettes. At the time they owned 300 shops. Aldi Nord and Aldi Süd have been financially and legally separate since 1966.
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In 1971, Theo Albrecht (former owner of Aldi and Trader Joe's) was kidnapped and held for ransom. Shortly after being freed, Theo tried claiming the ransom money, equivalent to $2 million USD, as a tax-deductible expense.
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Trader Joe's and ALDI (Albrecht Discount) are owned by rival brothers Theo and Karl Albrecht, respectively. They are German billionaires who each operate roughly half of the 'ALDI' grocery store empire found throughout Europe.
