Labubu creator joins list of world’s 100 richest people

Pop Mart CEO Wang Ning, the creator of Labubu, has entered the list of the world’s 100 richest individuals at the age of 38, Bloomberg reports.

According to the ranking, Ning’s total assets amount to $26.5 billion. He has surpassed Lukoil shareholder Vagit Alekperov and PayPal co-founder Peter Thiel on the list. Within just one year, the fortune of Labubu’s creator has grown by $20 billion.

Earlier, Pop Mart had announced the launch of miniature versions of its Labubu dolls. The company’s stock price surged on the exchange following the announcement of the new mini Labubu line. The Pop Mart CEO noted that the new versions will be produced in the format of accessories designed for mobile phones.