Prease suppork Labubu as interest are faltering.

[syed putra]

From surpassing Jack Ma to losing $6B: How Popmart billionaire Wang Ning’s fortune skyrockets and then plunges with the Labubu hype​

By Minh Hieu
Tue 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.

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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] [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.​

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[k1976]

Fever to fatigue? Pop Mart is actually happy that Labubu resale prices are dropping​

PUBLISHED FRI, SEP 26 2025 12:48 AM EDTUPDATED 2 MIN AGO

Elaine Yu@YUENOK
WATCH LIVE

KEY POINTS

• Chinese toymaker Pop Mart's trendy Labubu dolls were all the rage this summer, fuelling a robust secondary market for the product.
• But scalpers appear to be panic-selling, leading resale prices to crater by half or more.
• Pop Mart said the fall in resale prices would benefit the company, even though demand in the secondary market boosted the company's popularity.

This summer, the monster toy Labubu charmed the world with its cute and chaotic energy, commanding resale markups that would make day traders or Rolex flippers blush. One secret blind box edition was selling for over 2,000% above retail prices, according to Nomura. Last month, robbers in California staged a $30,000 heist.

Now, there are signs that the secondary market is losing steam — scalpers are panic-selling, watching prices crater by half or more. But Pop Mart, the Chinese company behind the phenomenon, said the fall in resale prices was just what they wanted.