"Shares of Chinese toymaker Pop Mart have surged more than 250% this calendar year on the back of the Labubu craze, boosting CEO Wang Ning's net worth to $27.5 billion at Tuesday's close, per the Bloomberg Billionaires Index. Thanks to his nearly 50% stake in Pop Mart, Wang is around $20 billion richer than at the start of 2025, meaning his net worth has more than tripled this year. He's outpaced Michael Dell, Jeff Bezos, Warren Buffett, and all but seven of the names on the rich list."
"Pop Mart's stock has soared as demand for its products has translated into strong financial gains. First-half revenues tripled year over year to about 13.9 billion yuan, which is about $1.9 billion, fueling a five-fold increase in operating profits to around 6 billion yuan. The Monsters collection, which includes Labubu, generated around 4.8 billion yuan - more than a third of total sales."
Pop Mart's shares rose over 250% this year as Labubu-driven demand surged, lifting CEO Wang Ning's net worth to $27.5 billion. Wang added about $20 billion since the start of 2025, more than tripling his wealth and moving from roughly 400th to 79th on Bloomberg's rich list, surpassing several well-known billionaires. Wang's nearly 50% stake in Pop Mart amplified his gains. First-half revenues tripled year over year to about 13.9 billion yuan and operating profits rose five-fold to around 6 billion yuan. The Monsters collection, including Labubu, generated about 4.8 billion yuan, over one-third of total sales.
Read at Business Insider
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