Labubu is securing the bag—in more ways than one.
As sales of the toy continue to skyrocket, Mart’s Wang Ning is cashing in on a staggering, 10-digit profit.
Ning—who is the founder, chairman and CEO of Pop Mart International Group, the company behind Labubu—has a jaw-dropping net worth estimated to be $22.1 billion, according to Forbes. And that number has only increased in the last year, with Ning’s net worth estimated to be $1.8 billion at the end of 2024.
And yes, Labubu deserves a lot of credit here. While the toy was introduced in 2015 in artist Kasing Lung’s The Monsters book, the key ring didn’t actually hit Pop Mart shelves until 2023.
And then came Blackpink’s Lisa, who revealed that the nine-toothed, furry monsters were her “secret obsession.”
“If I fly to New York, I go to Miami, I try to find Pop Mart there,” she said a 2024 video interview with Vanity Fair, “Paris, everywhere. Kind of like finding treasure.”
