Pop Mart co-founder and chief executive officer Wang Ning has seen his fortune rise sharply in 2025 as demand for the company’s Labubu dolls continues to surge globally.
Data from Bloomberg’s Billionaires Index shows that Wang’s net worth has grown by about $20 billion this year.
This development lifted him from around the 400th position to 79th on the global rich list. His wealth is now estimated at $27.5 billion.
The rise is tied to the popularity of Labubu, a rabbit-like character that has become a viral collectible.
The toy has sparked buying frenzies in several Asian cities, with customers queuing outside Pop Mart stores and trading the items at premium prices online.
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Financial results released for the first half of 2025 show Pop Mart’s revenue climbed to RMB 13.9 billion ($1.93 billion), representing nearly three times the figure recorded a year earlier.
Net profit rose by almost 400 percent to RMB 4.6 billion during the same period.
The company’s shares have gained more than 10 percent this year, reaching record levels on the Hong Kong Stock Exchange.
Industry observers note that the Labubu craze reflects the strength of the blind-box business model, where customers purchase sealed packages without knowing which character is inside.
The system has driven repeat purchases and fostered a strong secondary market for rare items.
The company, founded in 2010, has previously built success around other collectible series but the latest surge around Labubu has significantly expanded its global profile.