It’s easy to understand the enduring family appeal of a toy brand such as LEGO when you look at their history and realize that theirs is a family thing as well. From the humble workshop of Danish carpenter Ole Kirk Christiansen in Billund, The LEGO Group expanded into the global giant it is today under the leadership of Ole Kirk, his son Gotfried and grandson Kjeld Kirk Christiansen.
While Kjeld Kirk already holds the distinction of being the richest man in Denmark, his fortunes may have just skyrocketed even further after a series of events saw his net worth jump by $2.7 billion in a single day.
The owner of The LEGO Group can thank two global toy brand competitors for the rise in his valuation, namely US-based multinational companies Mattel – makers of Barbie – and action figure juggernaut Hasbro. After talks flooded the business world of the two brands discussing a possible merger, the financial clout of such a potential new corporate heavyweight caused the stock market to hurriedly increase valuations of other companies in the worldwide toy industry.
Thus The LEGO Group found itself revalued more with a $2.7 billion increase; and seeing as the company is privately held by the Christiansen family and their foundations, this puts Kjeld Kirk’s net worth in an even better position.
Business news source Bloomberg explained that the $2.7 valuation increase of The LEGO Group was “due to a rise in the peers’ valuation metrics following merger speculation.” In addition to LEGO itself, Kjeld Kirk Christiansen is chairman and part-owner of another business concern, KIRKBI Holdings.
While LEGO is currently the largest toy manufacturer in the world, if the proposed Mattel-Hasbro merger does take place, the result will bump LEGO down to the second – largest worldwide instead.
Kjeld Kirk’s last major press appearance was during the recent opening of LEGO House in Billund.