T heo Albrecht Jr. is a German billionaire heir and a member of the family that owns the Aldi Nord supermarket empire. He is the son of the late Theo Albrecht Sr., who, along with his brother Karl Albrecht, founded the Aldi discount supermarket chain after World War II. The brothers pioneered the 'hard discount' retail model, focusing on a limited range of private-label products, low overheads, and extreme efficiency to offer the lowest possible prices. They split the company into two separate geographic entities, Aldi Nord and Aldi Süd, in the 1960s, with Theo Sr. taking control of the northern half of Germany and much of Europe.

After his father's death, Theo Jr. and his brother, the late Berthold Albrecht, inherited the vast Aldi Nord empire. The company also owns the popular American grocery chain Trader Joe's, which it acquired in 1979. The Albrecht family is famously and obsessively secretive, a trait that was intensified after Theo Sr. was kidnapped for ransom in the 1970s. Theo Jr. is not involved in the day-to-day management of the privately held company but his family's ownership stake makes him one of the wealthiest people in the world.