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These quirky collectables have added an incredible $1.6 billion to the CEO’s fortune in just one day.
Pop Mart was launched in 2010. (Photo Credits: X)
A quirky, wide-eyed collectable with sharp teeth, rabbit ears and a fuzzy coat has taken the world by storm. If you’ve been on the internet in the last few weeks, you may be familiar with Gen Z’s current obsession: the Labubu dolls. Everyone is going crazy over these mischievous characters from Chinese toy company Pop Mart International Group.
These quirky collectables have not only taken over celebrity collections and social media timelines, but they have also added an incredible $1.6 billion to the CEO’s fortune in just one day. This sounds unbelievable, but it is true!
The 38-year-old founder, chairman, and CEO of Pop Mart, Wang Ning, experienced this remarkable surge in his wealth, according to an April 2025 Forbes report. This financial leap was attributed to his company’s soaring popularity in the world because of the Labubu dolls. As per Forbes, Ning’s real-time net worth stands at $18.7 billion.
According to a BBC report, Pop Mart had to halt the sale of these dolls in UK stores after the physical altercations broke out among eager buyers. Deemed the latest fashion accessory, the doll’s popularity started in 2024 when K-Pop star Lisa posted a photo on social media with one. Later, celebrities like singers Rihanna and Dua Lipa as well as Bollywood actor Ananya Pandey followed suit.
Designed by Hong Kong-born artist Kasing Lung, the character originated from his 2015 picture book series, The Monsters. They are sold in blind boxes, a marketing strategy where customers do not know which doll is inside until they open it.
Who is Wang Ning?
Wang Ning, 38, is a Chinese CEO and chairman of Pop Mart International Group. According to Gemway Assets, he graduated in 2009 with a degree in advertising from Zhengzhou University. The toy company went public on the Hong Kong Stock Exchange in 2020. He was born in 1987 in Henan province, China.
It was launched in 2010, with a focus on the sale of collectable figurines in ‘blind boxes.’ The success of the company is attributed to this innovative marketing strategy, which leverages the element of surprise and encourages repeat purchases to complete collections.
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Delhi, India, India
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