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How the Lego billionaires lost EUR 135m in a single day as key investment backfired

The billionaires behind toymaker Lego suffered a stinging loss in a single day after one of their key investments backfired.

Photo: SHANNON STAPLETON/Reuters / X90052

Kirkbi, which oversees about EUR 15.5bn on behalf of the Kirk Kristiansen family that owns Lego, saw the value of its holdings fall about EUR 135m on Wednesday.

The trigger was a profit warning from ISS A/S, which shaved 20 percent off the market value of the Danish office-service firm. The estimated dent to the Lego family fortune is based on regulatory filings showing it holds roughly 15 percent of ISS.

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