Lego's Toy Empire Just Created Three Brand New Billionaires

lego spaceman

Photo: deltaMike/flickr

Danish-based Lego just became the most valuable toymaker in the world, according to Bloomberg.The company is now worth $14.6 billion on an earnings before interest, taxes, deductions and amortization (EBITDA) basis.

The previous top toy producer, California-based Mattel, is valued at $14.4 billion.

Revenue surged 25 per cent last year, turning the three children of Kjeld Kirk Kristiansen, Denmark’s richest man — Sofie, Thomas and Agnete, who hold a combined 37 per cent economic interest in the company valued at more than $5.3 billion — into billionaires.

“Lego is on fire,” Gerrick Johnson, an analyst with BMO Capital Markets in New York, told Bloomberg. “It’s the world’s biggest toymaker in terms of net income, operating income and Ebitda. It had a 71 per cent gross margin in its latest results and is posting strong sales growth.”

Click here to read how Lego turned their fortunes around >

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