|Date of Birth:
|December 27, 1947 (76 years old)
What is Kjeld Kirk Kristiansen’s net worth? How does Kjeld Kirk Kristiansen make his money? Below is the current net worth of Kjeld Kirk Kristiansen and how Kjeld Kirk Kristiansen makes his money.
What is Kjeld Kirk Kristiansen’s Net Worth?
Kjeld Kirk Kristiansen is a Danish business tycoon who has a net worth of $6 billion. His affluence places him among the wealthiest people in Denmark. Following a family restructuring in 2011, Kjeld Kirk Kristiansen became the sole owner of 51% of LEGO. The remaining 49% is owned by his relatives, the Lego Foundation, and the family’s humanitarian association.
Early Life and Education
Kjeld Kirk Kristiansen was born in Billund, Denmark on December 27, 1947. He spent his youth working for his family’s company, LEGO. Ole Kirk Kristiansen, his grandfather who was a carpenter by profession, established the company in 1932, 15 years prior to Kjeld’s birth.
Growing up, little Kjeld was an old soul, he was the one responsible for the evaluation of new LEGO ideas and ascertained whether guidelines were easily deciphered. He also served as a model for LEGO packaging.
Kjeld enrolled at Aarhus University and graduated with a business degree. He went on to obtain an MBA from the IMD business school in Switzerland, and later he graduated in 1972.
Kristiansen joined his family’s business two years after completing his second degree, and after some time, he became a member of the company’s board of directors. Kristiansen created the first miniature LEGO figurines, which later became epic. LEGO miniature figures were launched in 1978.
Through Kristiansen’s managerial role, LEGO grew expeditiously. The company commenced launching amusement parks and authorizing branding rights from other IP holders such as Star Wars in the 1990s. This IP growth led to the first Star Wars-themed LEGO set in 1999, which was highly successful and sparked lots of homogeneous affiliations.
Kjeld Kirk Kristiansen was installed as the chairman of the family’s investment company, Krikbi, in 1996. Krikbi holds 75% of Lego. The Lego Foundation, the family’s humanitarian subsidiary, dominates the other 25%.
Regretfully, after ten years the company was slightly productive. In the early 2000s, the company was definitely facing financial difficulties due to spiral competition from companies such as Hasbro.
During Kristiansen’s management, LEGO sacked over 1,000 of its workers and quit innumerable product lines. After the company lost $330 million the preceding year, he stepped down as CEO in 2004. In his place, he inaugurated his son Thomas to substantiate its finances, LEGO sold off a 70% stake in its amusement park business to private equity firm Blackstone the next year for $457 million.
The LEGO Group has won many awards, including the Swiss Freedom Prize and the Distinguished Family Business Award, as well as the Moran insignia of the Order of Civil Merit from South Korea.
Kjeld Kirk Kristiansen was inducted in 2008 into the Toy Hall of Fame. He has three children and currently resides in Denmark.
Kjeld Kirk Kristiansen helped lead a $1 billion investment into Epic Games, the maker of Fortnite, in support of the family’s investment firm Kirkbi in April 2022. Sony also invested $1 billion during this time. Epic was valued at $31.5 billion following the investment round. The investment from both Kirkbi and Sony had the target of eventually establishing virtual worlds, digital avatars, and digital goods in a child-friendly environment.
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