The LEGO Group owner Kjeld Kirk Kristiansen’s net worth grew by £2.7 billion in a single day, after news leaked that Hasbro and Mattel are discussing a merger.
The revelation that two of the world’s three toy giants, Hasbro and Mattel, are considering a merger saw rapid rises in toy industry valuations. This saw the LEGO Group’s valuation, and therefore the valuation of owner Kjeld Kirk Kristiansen’s wealth, rise by $2.7 billion.
Money reported the news of the increased valuation:
“[Lego’s] valuation rose by $2.7 billion on Nov. 13, 2017 due to a rise in the peers’ valuation metrics following merger speculation,” a Bloomberg rep told Money in an email. Bloomberg says Kristiansen’s net worth happened to have also increased by $2.7 billion because he is chairman and part owner of Kirkbi, which has more holdings and is far more valuable than just the Lego brand.
A merger between Hasbro and Mattel would position the LEGO Group as the world’s second biggest toy manufacturer.
Brick Fanatics recently interviewed Kjeld Kirk Kristiansen about the opening of the LEGO House.