Handler's daughter, Barbara Segal has said the cause of his death was heart failure.
Handler founded Mattel with his wife Ruth, who went on to invent the Barbie doll, and a short-term partner in 1945. During his career, Handler helped introduce a range of iconic toys, but is best known for introducing Hot Wheels.
In 1975, Elliot and Ruth Handler left Mattel after it was taken over by new corporate managers. Three years later, Ruth was accused of having doctored Mattel’s books to deceive shareholders and was sentenced to community service and fined.
Elliot Handler was born April 9, 1916, in Chicago and grew up in Denver.