Labubu's mystery figure has amassed a fortune surpassing Peter Thiel's wealth, reaching an impressive value.
Pop Mart's Soaring Revenues and Wang Ning's Fortune
In a remarkable turn of events, Chinese toy maker Pop Mart has seen its first-half revenues triple year-over-year, reaching an impressive 13.9 billion yuan, approximately $1.9 billion or €1.6 billion. This growth has been further accentuated by a fivefold increase in operating profit, bringing it to around six billion yuan (about €723 million).
The surge in Pop Mart's stocks this year, driven by the Labubu craze, has seen shares soar over 250 percent. As a result, the company's American Depositary Shares (ADS) closed at $44 (around €34) as of Tuesday.
Behind this success story is Wang Ning, Pop Mart's CEO. His net worth has increased by an astounding $20 billion (€17.3 billion) in 2025, placing him 79th on Bloomberg's list of the world's richest. This significant leap from his 400th position earlier in the year has made Wang Ning one of the biggest global wealth gainers this year.
The Labubu craze has played a significant role in boosting Wang Ning's fortune. The Monster series, which includes Labubu, generated around 4.8 billion yuan (approximately $580 million), more than a third of Pop Mart's total revenue.
Wang Ning's wealth increase, unlike that of tech giants like Larry Ellison of Oracle, Mark Zuckerberg of Meta, and Jensen Huang of Nvidia who boosted their fortunes through the AI boom this year, is primarily due to his nearly 50 percent stake in Pop Mart.
Pop Mart itself went public on the Hong Kong Stock Exchange in December 2020 through its own IPO, led by Wang Ning. The company did not come to market through another company but was directly listed there.
However, Pop Mart did not immediately respond to a request for comment from BUSINESS INSIDER regarding the company's recent success and Wang Ning's increased net worth.
As of Tuesday's market close, Wang Ning's net worth stands at around $27.5 billion (€23.7 billion). With his continued success, it will be interesting to see where Wang Ning and Pop Mart will stand in the future.
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