Billionaire Lego Family Investment Profit Falls on Share Losses

The investment fund of the family behind Lego reported a sharp drop in returns last year as losses tied to assets including shares eroded higher profit from sales of toys.

(Bloomberg) — The investment fund of the family behind Lego reported a sharp drop in returns last year as losses tied to assets including shares eroded higher profit from sales of toys.

Net income at Kirkbi Invest A/S fell more than 60% to 10.7 billion kroner ($1.56 billion) from 27 billion kroner in 2021, the Billund, Denmark-based fund said in a statement on Thursday.

Kirkbi’s profits from its 75% stake in Lego and its ownership in brand activities rose by 2% to 18.4 billion kroner while the investment activities posted a 4.1 billion-krone loss.

Kirkbi is chaired by Kjeld Kirk Kristiansen, the grandson of Lego’s founder and one of Denmark’s richest individuals, with a fortune of $4.9 billion, according to the Bloomberg Billionaires Index. In recent years, he has handed more control of Kirkbi to his three children.

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