The hottest trend of 2025, a Labubu doll, has created buzz all over the globe and has proven to be the game changer for Pop Mart, which distributes the toy.
As sales of the "monster" doll continue to soar, Pop Mart's CEO Wang Ning has accumulated billions of dollars in his net worth.
Ning, who is the founder and chairman of the company, has a jaw-dropping financial standing estimated to be $22.1 billion.
As per the Forbes report, the number has only increased in the last year, with Ning's net worth being $1.18 billion at the end of 2024.
A significant amount of credit has to be given to Labubu, which took the company to new heights after the key ring made it to Pop Mart shelves in 2023.
The "little monster" was first introduced in 2015 in Hong Kong's artist Kasing Lung's The Monsters book.
The trend was kickstarted after the K-Pop sensation BLACKPINK's Lisa was spotted with a Labubu, which she revealed was her "secret obsession."
Following that, the nine-toothed, furry monster made its way to several celebrities, including Madonna, Rihanna, and Dua Lipa.
With A-list stars indulging in the mania and the adrenaline consumers get due to the Blind Box packaging, which keeps the doll identity hidden, the Labubu trend has reached unprecedented markets.
Moreover, Ning is not the only one benefiting from the latest trend.
The head of licensing for Pop Mart in North America, Emily Brough, revealed earlier this year that Labubu generated more than $419 million in revenue in 2024, a 726% increase from a year before.
