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Karl Albrecht, Billionaire Co-Founder of Aldi, Dies at 94

Karl Albrecht, the German businessman who became one the world’s wealthiest people after co-founding the Aldi discount supermarket chain in the 1960s, has died. He was 94.

He died on July 16, Sarah Twyman, an Aldi spokeswoman at Weber Shandwick, said in an e-mailed statement. Albrecht died in Essen, Germany, and was buried in a private ceremony today, the Frankfurter Allgemeine Zeitung reported earlier.