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LEGO is still currently owned by the Kristiansen family, by Kjeld Kirk Kristiansen who is the grandchild of the entrepreneur of the family. Now, an astounding 84 years later the family controls 75% of current operations still as a Private Limited Company.
LEGO originally started in a small carpenter's workshop in Billund, Denmark. However, in 1924 the workshop burnt down, ultimately pushing Kristiansen to purchase a larger workshop to further expand his business.
75% of LEGO is owned by KIRKBI, a holding and investment company run by the Kristiansen family. The remaining 25% is owned by the LEGO Foundation: http://www.legofoundation.com/en-us/who-we-are/our-aim
Lego came to be in 1932 by Ole Kirk Kristiansen in a small carpenter's workshop, starting off as a sole trader.
In the mid-1930s, Kristiansen noticed a fad of Yo-Yos and began production of them which indefinitely boosted activity until suddenly the obsession of Yo-Yos collapsed. This is known as short-termism, where a product or a service might prove to be profitable for a short time, ultimately until the product/service becomes undesirable.
The name "LEGO" is an abbreviation of the two Danish words 'leg godt' meaning Let's Play! The company's flagship product, small plastic bricks that can be put together and taken apart have won Toy of the Century twice due to their creative nature. It has come a long way over the years; from a small carpenter's workshop to a global enterprise.
Overall, LEGO is a multi-billion dollar industry and is expected to continue to be through the expansion of toys, amusements parks and so forth.
A larger and more modern factory was built near the site of the old warehouse in Billund and the company was converted from a sole-trading firm to a private limited toy manufacturing company named The LEGO Billund Toy Factory Ltd. Ole Kirk took the title of senior manager and appointed his son Godtfred as junior manager. By 1947, the Lego company had matured into a prosperous family enterprise which manufactured almost 150 different kinds of carved wooden toys and employed about 40 people.
Effectively; this expansion of the factory kick-started LEGO's massive industry.
Source: http://www.company-histories.com/Lego-AS-Company-History.html
Statistics
Although a massive company, LEGO has kept extremely private about their profit, however it can be estimated that their business is the fifth biggest toy manufacturer in the world. Being an LTD, their company does not sell shares on Stock Markets. This stresses their desire of control and profit retention in the family; a crucial belief made prevalent through their 85 years of business as they have maintained strict control over 75 percent of the business. However, even as a Private Limited Company their sales sit at a massive $2 billion dollars.