Wang Ning, the 38-year-old founder of the Pop Mart toy store, has amassed a fortune of nearly USD 20 billion (as of early August, according to the Bloomberg Billionaires Index), thanks in part to the global obsession with a “native” of China, the Labubu doll.
In 2019, Pop Mart, which had already successfully launched blockbuster toys such as the Sonny Angel figurines, acquired exclusive rights to Labubu from a Hong Kong artist. The designer created the character drawing inspiration from Scandinavian troll myths.
Labubu’s triumphant global conquest, alongside Pop Mart’s soaring stock prices and Wang’s skyrocketing personal wealth, peaked in early 2025. Millions of views and reposts turned Labubu into a cultural phenomenon and its manufacturer into one of the toy industry’s most valued players.
Yet, Wang’s business success isn’t just luck. It stems from his deep understanding of consumer wishes. “The whole world is rushing you to grow up but Pop Mart wants you to slow down a bit,” the billionaire says.
