Man Behind Popular Labubu Dolls Now Worth $23B

The man behind the popular Labubu dolls is now reportedly worth $23B. Yes, that's with a "B!"

Chances are you've probably seen these Labubu dolls on social media recently. They're hard to describe. I think it's best to say they're so ugly they're cute? That seems to fit them well. They're these dolls that are fuzzy and kind of scary looking but they've been incredibly popular recently. So much so that the man behind it, 38-year-old Wang Ning, is now reportedly worth nearly $23B! He's the founder and chairman of Pop Mart International Group and is now China's 10th richest person, per News Bytes. Labubu dolls have become a global sensation! You might want to familiarize yourself now because the kids are probably going to be asking (or demanding) by Christmas!

According to News Bytes, the Labubu doll launched in 2019 and was created by Hong Kong artist Kasing Lung. It's part of the blind box trend where consumers buy sealed boxes without knowing which figure they'll end up getting. It's all a part of the fun! That surprise element, along with them being limited-edition, collectible, and gamified chance have combined to make it very appealing to Gen X, per News Bytes. You have to imagine their unique look has played a part in all of its popularity too.

Celebs have already jumped on the train. Rihanna and Dua Lipa have been spotted with Labubu dolls. So has Lisa from BLACKPINK, a popular K-Pop group. They're definitely going to keep taking off, so that $23B is probably going to continue to climb. Good for him. Do you have one of these of your own? Do you want one? I like the idea of the blind box and not knowing what you're going to get. I think that makes it fun and exciting. I wouldn't mind buying one to see what I get!

Learn more about Labubu dolls or shop around here.