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From surpassing Jack Ma to losing $6B: How Popmart billionaire Wang Ning’s fortune skyrockets and then plunges with the Labubu hype
By Minh HieuTue 9/16/2025, 08:59 pm (PT)
The craze for Popmart’s hit toy Labubu propelled billionaire founder Wang Ning’s net worth past that of tech icon Jack Ma, but signs that the hype is fading are now eroding his fortune.
Wang, 38, chairman and CEO of Hong Kong-listed toymaker Popmart, previously held a fortune worth US$27.5 billion in late August, making him richer than Ma, whose net worth was $25.6 billion at the time, according to Forbes.
In recent weeks, however, Wang’s wealth has shrunk to US$21.6 billion. While still enormous, this figure is down over 20% from its peak and once again puts him below the iconic tech tycoon.
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[td]Wang Ning, founder and CEO of Popmart. Photo courtesy of HSG[/td]The surge and slide in his net worth both trace back to one force: the hype surrounding Popmart’s Labubu toys.
In recent weeks, however, Wang’s wealth has shrunk to US$21.6 billion. While still enormous, this figure is down over 20% from its peak and once again puts him below the iconic tech tycoon.
