Meet the Chinese CEO Who Made $1.6 Billion in One Day Thanks to the Viral Labubu Doll

In just one day, Labubu doll Chinese CEO Wang Ning added $1.6 billion to his fortune, thanks to the global craze over a $10 blind-box toy. The viral Labubu doll, created by Pop Mart, isn’t just a cute collectible—it’s a global cultural phenomenon that’s redefining modern retail, social media influence, and consumer behavior.

Labubu Doll Chinese CEO Turns Pop Culture Into Profit

Wang Ning, now worth over $18.7 billion, leads Pop Mart—a Chinese toy empire he founded in 2010. What started as a small business with blind-box figurines evolved into a global sensation. The Labubu doll Chinese CEO used smart branding and limited-edition drops to trigger obsession-level demand among young consumers.

Labubu, with its impish grin and big eyes, has been spotted on the designer bags of global stars like Rihanna, Lisa from Blackpink, and India’s Ananya Panday. The doll’s rise in popularity led to chaos in London stores, where fights broke out among customers eager to grab one. Pop Mart had to halt in-store sales in the UK due to the overwhelming demand.

Meanwhile, the Pop Mart app topped the U.S. App Store as collectors raced to get their hands on Labubu online. The result? Pop Mart’s stock price soared, adding a staggering $1.6 billion to Wang Ning’s fortune in just 24 hours, according to Forbes.

The Rise of Blind Boxes and Designer Collectibles

Pop Mart succeeded by transforming the humble blind box into a must-have cultural item. Each sealed box holds a mystery figurine—creating excitement, collectability, and repeated purchases. This psychological model has turned fans into fanatics, willing to spend hundreds for a complete set.

The company partners with artists to produce collectible series like Molly, Dimoo, and Skullpanda. Half of its revenue still comes from physical stores across Asia, the U.S., and Europe, but its digital presence is rapidly growing. Pop Mart’s social media marketing, app gamification, and influencer tie-ins have turned toys into high-demand lifestyle icons.

What once seemed niche is now big business. The collectible toy market is attracting venture capital, resale traders, and serious investors. Pop Mart’s success, built around the Labubu doll, proves that consumer culture, when paired with smart design and limited access, can become a billion-dollar industry.

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