With LABUBU continuing to be one of, if not the hottest collectibles globally, POP MART, the company behind the internet-breaking IP, witnessed its share prices soar. In the meantime, Wang Ning, the founder and CEO of POP MART and the person who “discovered” LABUBU, also saw his personal wealth go through the roof. In the latest Forbes ranking, the “post-85” entrepreneur has become the richest person in his home province, Henan.
On 8 June, Forbes updated its rich list which saw Wang Ning and family overtake the pig-breeding tycoon Qin Yinglin and his 20.3 billion USD family fortune, becoming the richest in Henan, and number 104 in the world. By 6 June, POP MART had a market value of 328.8 billion HKD (41.90 billion USD). According to POP MART’s annual financial report, Wang Ning owns 48.73% of POP MART shares, meaning he owns 146.7 billion RMB in shares, equivalent to 20.4 billion USD.
- #泡泡玛特创始人成河南新首富 POP MART founder is the new richest person of Henan: 150 million views on Weibo, ranking number 2 on the Hot Search list
- #泡泡玛特创始人王宁身家1467亿 POP MART founder Wang Ning is worth 146.7 billion RMB: 611.87 million views on Weibo
With LABUBU figurines and plushies selling out in minutes in the US and causing brawls in London, the MONSTER has captivated the world. There have been reports of a Ping An Bank branch in Xi’an, Shaanxi giving away genuine LABUBU blind boxes to anyone who saves over 50,000 RMB (6,900 USD) for at least 3 months. With pundits warning of a potential bubble in the demand, Wang Ning also stated his intention to not enable “over-consumption” of LABUBU by reducing supply.