German supermarket Aldi may look like it’s low budget has no money, but that isn’t the case.
The heirs to co-founder Theo Albrecht’s fortune of $15 billion are battling for control of Aldi in Europe.
Theo’s elder son, Theo JR, has attacked his widowed sister-in-law Babette Albrecht for her purchases of art and vintage cars, paid for by the company and he using it to try and get control of the company.
The feud is the first bit of public dispute that has come from the family after decades of direction, who’s owners are so secretive that there are no photos of them!
Even the names of Babbette’s children are not known, and when they were published, the family won an injunction against a magazine that published the,
The feud had heated up after Babette’s husband Berthed died of cancer. His heirs caught to move on Aldi’s lawyer, so that his children did not have any influence at all, including Theo Jnr who described Babette as ‘’”a burden on our company” by refusing to “subordinate your private lifestyle to the interest of our group”.
They see that Babette’s wage of $25 million a year is too excessive for the job they do.
Babette thinks her spending is her own business but Theo Jnr disagrees and has tried to buy the company off her so that Aldi maintains its image, she declined immediately.
In recent times, Aldi has fallen behind with its market share in Germany and is currently going through a revamp.
If it fails, it could spell disaster for the company, which relies on its home country for the majority of its sales.
They have been told by business experts to ‘get with the times’ and ‘’relax a bit’’ and let the business run itself or risk rethinking it’s brand.