The billionaire owners of the renowned Lego empire, Kirkbi, have witnessed a significant upturn in their wealth. This surge is attributed to a profitable turnaround in their investment portfolio.
What Happened: Kirkbi’s net income rose to 11.3 billion kroner ($1.62 billion) in 2023. This marks a 5.9% increase in profits, largely due to the turnaround in its investment portfolio, reported Bloomberg.
The group’s total assets, however, saw a 1.4% decrease to approximately $23.5 billion, following a withdrawal of funds by one of the family owners for private investments.
Despite this, the investment activities of Kirkbi turned profitable in 2023, generating 3.66 billion kroner in contrast to a 4.08 billion-krone loss the previous year. The portfolio encompasses stocks, bonds, and real estate.
The ...