Pop Mart CEO Wang Ning has surged into China’s top 10 richest individuals, thanks to the global mania surrounding Labubu—the quirky toy that’s become a fashion icon. Created by artist Kasing Lung and launched in 2019, Labubu’s “ugly-cute” charm and collectible appeal have catapulted Pop Mart’s earnings.
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Fueled by celebrity endorsements from stars like Lisa, Dua Lipa, and Rihanna, Pop Mart saw its net income jump 188% in 2024, crossing ¥13 billion in sales. Wang’s fortune now exceeds $20 billion.
