PAWTUCKET, R.I. (WPRI) – Rhode Island reportedly has a new billionaire.
Bloomberg News reports that former Hasbro CEO Alan Hassenfeld’s ownership stake in the toy company topped $1 billion last week when its stock price hit a new high of $103.96. Hasbro shares were trading even higher midday Wednesday, at $104.67.
According to Bloomberg, Hassenfeld holds a 6% stake in the Pawtucket-based toy company, whose product lines include Monopoly, My Little Pony, Disney princesses and “Star Wars.” The 68-year-old is a grandson of a Hasbro co-founder – “Hasbro” is short for Hassenfeld Bros. – and served as CEO from 1989 to 2003. He remained as chairman until 2008.
Hassenfeld was not immediately available for comment. A Hasbro spokeswoman said the company no longer handles communications for him, although he remains a member of its board. He is also on the board of Salesforce.com Inc.
A Forbes magazine list of billionaires released earlier this year showed only one Rhode Islander with a 10-figure net worth: Jonathan Nelson, founder and CEO of Providence Equity Partners.