Wang Ning: Labubu’s Viral Toy Craze Turns CEO into a Billionaire

Wang Ning, founder and CEO of Pop Mart, has turned a quirky designer toy into a cultural phenomenon—and a $22.7 billion fortune. His brainchild, the Labubu doll, has catapulted him into the ranks of China’s top 10 billionaires, according to Times of India.

From Newsroom to Toy Empire

Wang began his career as a state TV reporter before launching Pop Mart in 2010. His goal: make art toys mainstream. Labubu, a mischievous, buck-toothed figure created by artist Kasing Lung, became the brand’s breakout success.

Through blind-box releases, limited editions, and emotionally driven branding, Pop Mart quickly attracted a passionate Gen Z following across China, South Korea, and Southeast Asia.

How Labubu Went Viral

Labubu isn’t just a toy, it’s a pop icon. Fans queue for surprise drops, post unboxing videos, and trade rare editions online. This community-driven demand helped Pop Mart scale fast, opening thousands of stores and installing toy vending machines in major cities.

Today, the company’s market cap exceeds $10 billion, and Wang Ning stands out as one of China’s leading billionaire entrepreneurs in youth culture.

The Business of Emotion

Wang Ning proves that even the smallest characters can spark the biggest fortunes. Pop Mart’s success is rooted in a blend of nostalgia, status, and personal identity. The brand rides the wave of collectible culture, K-pop influence, and the desire for emotionally resonant products.

Labubu’s popularity has reached global celebrity status—BLACKPINK’s Lisa and Rosé, Jackson Wang, as well as Thai-British actress Araya Alberta Hargate, have all been spotted with their Labubu figures. Their posts have fueled even more hype among fans, making Labubu a coveted symbol of cool and collectible luxury.

With ongoing collaborations with global artists, Pop Mart is building a lifestyle empire that goes beyond toys.