Finnish Businessman’s Early Bet on Angry Birds Is Making Him a Billionaire

Rovio Entertainment Oy’s concentrated ownership means its planned $2 billion initial public offering would crystallize a $1.4 billion fortune for board director Kaj Hed, according to the Bloomberg Billionaires Index. The Finnish businessman holds about 69 percent of the company after investing 1 million euros ($1.2 million) more than a decade ago into the company co-founded by his nephew. Other shareholders include venture capital firms Accel Partners and Atomico who each own 10 percent, according to the company’s 2016 annual accounts.