Karl Albrecht, the reclusive 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.

Karl Albrecht, co-founder of the Aldi grocery store empire and one of the world’s richest people, has died in the western German city of Essen at the age of 94.

Mexico telecoms czar Carlos Slim topped the Forbes annual world’s richest list, holding the edge over Microsoft’s Bill Gates who continued to give away billions to charity.

IRELAND has three billionaires worth a total of $5.8 billion (€4.9bn), according to the Forbes list of the world’s richest men and women.