10 Simple Toy Ideas That Made People Millionaires

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Everyone believes they have that next great idea that will make them rich, with innovators often thinking up some of the most complex ideas imaginable in order to create something unique that consumers will love.

This is certainly true when it comes to toys, with something new being created on a daily basis as the market continues to grow, however, the reality is when it comes to toys, that sometimes simple things are the best.

Children are often more than happy playing with something that is easy, doesn't need a major setup and can be taken anywhere. Within this list, we will rank 10 simple toy ideas that helped make people millions.

Hula Hoop

Toys don't get much more simple than a good old fashioned Hula Hoop do they? Sold around the world, Hula Hoops remain just as popular now as they were when they were originally released.

A hit amongst children, Hula Hoops are now used frequently in schools and have even burst through into the fitness world, taking the toy to a whole new level with many gyms bringing them in.

The toy sold more than 100 million units within its first two years of creation, which is an unbelievable amount, for what is basically just a little bit of plastic shaped into a hoop.

Wacky Wall Walker

This invention was originally from China, but once it was given as a gift to Ken Hakuta, the product was taken to a whole new level as he bought the rights of the product for just $100,000.

Hakuta managed to take the toy into a totally new level of popularity, marketing it around the country with the toy growing at a steady rate, eventually appearing in The Washington Post which helped it become a sensation around the world.

The toy went on to sell more than 240 million units, making more than $80 million, proving that the $100,000 Hakuta purchased the rights for was a complete bargain.

Magic 8 Ball

This toy is another incredibly simple one that has taken off in popularity and has always remained popular amongst children, especially now the nostalgia factor is able to be added to the toy.

The Magic 8 Ball is incredibly simple, as it is literally just a plastic ball with a 20-sided die inside, along with some alcohol to make it swoosh around, providing the answers to children's burning questions.

Of course, the ball has no real power, but the world bought into it, which is probably because it appeared on so many television shows and movies, helping to really market the toy to the world.

Beanie Babies

The creator of the Beanie Babies, Ty Warner has a net worth of $2.6 billion! That's right, these teddy bears helped make Warner a billionaire, proving that something so simple can really take off to a crazy level.

While there are certainly simpler toys than the Beanie Babies, there is nothing overly special about these teddy bears, but due to their cuddly nature and bright and vibrant colors, the Beanie Babies were able to take off in popularity.

Millions of these have been sold, with retail chains picking them up and selling them. Due to their popularity, there is a chance that you might own a very expensive Beanie Baby, with some being sold online for incredible sums of money.

Pet Rock

This 'toy' really should not have worked, yet somehow the Pet Rock became an incredibly popular thing to own when it was released in 1975, with the idea being that it was a "hassle-free" pet.

This literally was a rock, that would come with a training manual, a cardboard box that worked as a carrier and a lead to tie around the rock, and for some reason, it took the world by storm with plenty of people purchasing one.

The Pet Rock ended up helping Gary Dahl, the inventor of this genius idea, earn $6 million, which for just a rock, is a pretty good return.

Furbies

Everybody has heard of a Furby, with the electronic owl being an incredibly popular toy, and even though it was electronic, this was still a very simple toy and it was in its simplicity that it became so popular.

The toy became so big that at one point the National Security Agency banned them from its office after an article claimed it was a "Chinese-manufactures spy" that was listening in on conversations.

Of course, that wasn't the case and the toy remained a big hit for several years, with the Furby earning $500 million annually at its absolute peak.

Koosh Ball

The Koosh Ball was invented in the 1980s with Scott Stillinger having the idea to make a rubbery ball that was full of colorful fibers all over it, and it managed to become an incredible hit, with Time Magazine naming it one of the greatest toys of all time.

Because of their popularity, different styles and designs of Koosh Balls were quickly created as the toy grew and grew, which for such a simple toy really was fantastic.

In the end, Hasbro bought the Koosh Ball from Stillinger in 1997, for an incredible $100 million, and have continued to make the Koosh Ball a success, with branded characters from Disney even being brought into the ball.

Slinky

When you talk about simple toys, a Slinky really is the perfect example of something that is so basic, yet so much fun that it became a major hit, being one of the most famous toys in the world.

It is simply a spring-like toy that is often colored to stand out as much as possible that you can place and allow to spring around in different ways, with a set of stairs being the only thing needed to make this product work well.

Well, it may be simple, but for inventor, Richard James, it has been the greatest invention of all time as the Slinky has gone on to net his family around $250 million, which is incredible for something so basic.

Top Trumps

This toy took the classic card games to a totally new level, making cards very child-friendly and accessible, bringing in different franchises to make them as interesting as possible the demand for Top Trumps seems to grow each year.

With the packs always being bright and vibrant in order to stand out on the shelves, these toys are perfect for long car journeys or travel on a plane, and the ability to take them anywhere is a real highlight.

There have now been millions upon millions of Top Trump packs sold all around the globe, and for such a simple idea and design, there has been some huge money earned.

Hot Wheels

Hot Wheels are a phenomenon, with the toy cars being one of the most successful and popular toy franchises ever made, and they are so simple to create, with small designs they are just tiny little cars.

However, even though they are simple they have captured the imagination of millions of children and earned Elliot Handler millions as he helped co-create Mattel, and his finances are certainly doing well considering it was his wife who created Barbie.

But for Hot Wheels, this is a toy that is never going to get old, with children always wanting to imagine owning a car, and with the crazy designs and ideas Hot Wheels can now add on, the sky is the limit.

NEXT: 10 Most Expensive Toys Ever Made