Elon Musk Sparks Speculation Over Potential Hasbro Acquisition

Elon Musk is known for his knack for shaking up industries and making waves with his bold business ventures. As one of the wealthiest individuals in the world, Musk has the unique ability to draw attention to any company he mentions, simply by bringing it into conversation. Recently, this phenomenon occurred when Musk commented on Dungeons & Dragons, the iconic tabletop role-playing game, and its parent company, Hasbro. This sparked widespread speculation about whether Musk might be interested in purchasing Hasbro, the toy and gaming giant behind the beloved game.

This recent turn of events began when Wizards of the Coast, the subsidiary of Hasbro that oversees Dungeons & Dragons (D&D), released The Making of Original D&D: 1970-1977, a book celebrating the 50th anniversary of the game. The book offers a detailed look at the original design documents, letters, and early drafts of the game that would go on to become a global cultural phenomenon. Reproducing these archival materials gives fans an inside look into how the game evolved from a collection of handwritten notes and typewritten pages to the complex, immersive experience that is loved by millions today.

However, the book’s release came with a controversial foreword that pointed out some of the content might be considered offensive by modern standards. This triggered intense debate on social media, with some readers applauding the transparency, while others felt that it disrespected Gary Gygax, the co-creator of Dungeons & Dragons, who is often considered the game’s primary creative force. The discussion reignited when the book went on sale as part of an early Amazon Black Friday deal, bringing a fresh wave of readers into the conversation. Among them was none other than Elon Musk, who decided to share his thoughts on the matter. Musk’s intervention in the debate, though largely focused on Dungeons & Dragons’ legacy, set off a chain of speculation about his interest in Hasbro as a whole.

As Dungeons & Dragons continues to grow in popularity, it has undergone some significant changes in recent years. For example, the 2024 edition of the Player’s Handbook took a notable step away from the use of the term “races” to describe the different character types, instead opting for the term “species.” In doing so, the book shifted character statistics away from the concept of race and linked them to character backgrounds. This move, which aligns with broader social trends toward more inclusive language, has been praised by some, while others view it as a departure from the game’s traditional roots. Despite such changes, Dungeons & Dragons remains as popular as ever. In fact, Wizards of the Coast has reported that the 2024 Player’s Handbook is the fastest-selling D&D book in the game’s history. This success has been a bright spot for Hasbro, which has been struggling in other areas, such as the sluggish toy market and the downturn in collectibles. With Magic: The Gathering, another Wizards property, continuing to perform well, Hasbro has found some stability in its gaming division.

It was against this backdrop that Musk commented on Hasbro’s future. On November 27th, 2024, Musk replied to a post discussing the legacy of Gary Gygax and Dungeons & Dragons, which quickly caused ripples throughout the gaming and business world. His comment raised eyebrows not only because of its content but also due to the speculation that Musk might be considering an acquisition of Hasbro. For context, Hasbro is a company with a revenue of $4.32 billion for the previous fiscal year, but it also carries $3.99 billion in debt. Its stock price has fluctuated between $45.87 and $73.46 per share in recent years. In comparison, Musk’s purchase of Twitter, now rebranded as X, cost him an estimated $44 billion. By these standards, Hasbro might seem like a far more affordable acquisition for Musk, especially considering that its toy business has struggled, and its most profitable divisions are rooted in tabletop and card games.

Even though Hasbro may appear to be a bargain compared to some of Musk’s other ventures, buying the company may not be as simple as it seems. Musk is already juggling a multitude of companies, including X, Neuralink, Tesla, and SpaceX. In addition to his business endeavors, Musk has been a vocal supporter of President-elect Donald Trump and has even been tapped to oversee the Department of Government Efficiency with Vivek Ramaswamy, making his schedule even busier. It remains to be seen whether Hasbro would be a company Musk could easily take on, or if it would be more of a side project for the billionaire. Hasbro’s toy and gaming divisions have been among the company’s strongest performers, particularly its resurgence in the Dungeons & Dragons and Magic: The Gathering markets. However, buying a company of Hasbro’s size might require significant time and energy—resources that Musk is already spreading thin across his various ventures.

One thing is certain when it comes to Elon Musk: his unpredictability is legendary. Whether he’s launching rockets to Mars, revolutionizing the electric car industry, or making waves on social media, Musk has become known for his disruptive approach to business. Given his tendency to shake up industries, it’s not hard to imagine that he might be interested in venturing into the world of tabletop gaming, especially when one considers his playful engagement with the Dungeons & Dragons discourse. If Musk were to acquire Hasbro, it could spell major changes for the company, as Musk’s approach to business tends to involve radical shifts in strategy. Dungeons & Dragons fans and industry insiders alike would undoubtedly be watching closely to see how Musk would steer the ship—especially when considering the legacy of a game that has been beloved for decades.

In the end, whether Musk is simply having a momentary distraction or whether he is seriously contemplating entering the gaming industry remains to be seen. What’s clear is that wherever Musk goes, disruption follows—and Hasbro, along with the world of tabletop gaming, might be the next industry to feel his influence. Time will tell.