Key Takeaways
- Hasbro stock rose by 2% after Elon Musk tweeted he might consider buying the company.
- Musk has taken issue with some of the content of a recent Dungeons and Dragons book that distances Hasbro from the original creator of the franchise.
Hasbro stock has seemingly received a boost from Elon Musk’s recent suggestion that he would consider buying the company. It’s presently unclear whether Musk is seriously considering a Hasbro acquisition.
The billionaire entrepreneur has recently taken issue with some of the content of Making of Dungeons and Dragons, a book Hasbro released as part of its celebrations of the 40th anniversary of the DnD franchise. One section of the book labels the original iteration of DnD as containing “insensitive and derogatory” language that can be hurtful to women, minorities, and some other groups. This passage seemingly upset Musk, who suggested as much in a November 22 tweet, stating that “nobody gets to trash E. Gary Gygax and the geniuses who created Dungeons and Dragons.” Referring to Hasbro and its subsidiary, Wizards of the Coast, which publishes DnD media, he added: “may they burn in hell.”
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Six days later, Musk suggested that he may buy Hasbro by publicly inquiring about its price on Twitter. This remark may have boosted the company’s stock, which rose by two points during the shortened trading session on November 29, following Thanksgiving. Although stock fluctuations tend to be driven by multiple factors, the fact that the richest person in the world expressed interest in Hasbro plausibly had a material impact on the recent price of the company’s equities. More specifically, Musk’s tweet possibly added over $160 million to Hasbro’s market cap. It remains to be seen whether this price holds up once trading resumes on December 2.
Hasbro Acquisition Would Give Musk Control of Much More Than Just DnD
Acquiring Hasbro would give Musk control over much more than just Dungeons and Dragons. The Rhode Island-based company also owns Magic: The Gathering, Transformers, Monopoly, Peppa Pig, Power Rangers, My Little Pony, and Cluedo, among numerous other popular franchises. While the billionaire entrepreneur hasn’t detailed any concrete acquisition plans, his public musings about buying Hasbro shouldn’t be dismissed. Musk’s Twitter acquisition began in a similarly low-key manner and seemed uncertain until it ultimately happened.
The current situation ties back to Musk’s recent announcement that he wants to start an AI game studio. Taking to Twitter on November 27, the 53-year-old asserted that “massive corporations” own “too many game studios” nowadays. Due to this state of affairs, he proclaimed that his xAI company is going to start an AI game studio in order to “make games great again.” Musk did not elaborate on what any of that actually means.
Source: Elon Musk / Twitter
Dungeons & Dragons
- Created by
- E. Gary Gygax , Dave Arneson
- Movie
- Dungeons & Dragons: Honor Among Thieves
- Creation Year
- 1974