Lego's billion-dollar building business expands

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Lego's billion-dollar building business expands
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Lego recently expanded its lineup of building sets, something that could help the company, which already makes billions each year, see further growth in its bottom line.

One of the planned new facilities,

, has its opening targeted for 2025, with the ground-breaking on its construction having occurred in April. It involved a $1 billion investment from the Danish toy company, FOX Business previously reported.Lego, which dates back to the 1930s, is privately owned, with Kirkbi A/S having a 75% stake. Kirkbi A/S is the holding company for the family of the Lego founder, the late Ole Kirk Kristiansen.

Thomas Kirk Kristiansen, his great-grandson, serves as chairman of the board for Lego A/S and Kirkbi. His father, Kjeld Kirk Kristiansen, held leadership positions at both in the past. LEGO PIVOTS BRAND TOWARD PUSH FOR DIVERSITY AND INCLUSION WITH REVAMPED ‘FRIENDS’ PRODUCT LINE FOR ALL KIDSThe Kristiansen family have a multibillion-dollar fortune largely thanks to Lego, according to Forbes. The outlet pegged the net worth of Thomas Kirk Kristiansen at $6.8 billion along with his father and sisters, Sofie Kirk Kristiansen and Agnete Kirk Thinggard.

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