Who Owns Pop Mart? Learn All About the Toy Company's Billionaire CEO

People want to know who the owner of the toy company Pop Mart International Group is after the global success of Labubu dolls. According to Forbes, the Chinese company went public in 2020 in Hong Kong, and the owner is now a billionaire many times over.

The toy company was founded in 2010, and it began by selling dolls that only cost $10. People all over the world love the dolls, especially the Labubu dolls from the company's Monster series. The dolls are collectibles that resemble mischievous elves, and they were created by artist Kasing Lung. The dolls were inspired by fairy tales and Nordic mythology, and they have made the company's CEO very rich. So, who owns Pop Mart?

Pop Mart is owned Wang Ning. According to Hypebeast, he is the 10th richest person in China, mostly thanks to the toy company's Labubu dolls. The company was founded in 2010 and is based in Beijing.

The toy company used a “blind box” retail model for the collectible dolls, and the surprise model led to high demand for Pop Mart's original intellectual properties. The company has several beloved dolls, but the Labubu dolls from the Monster series, which are "mischievous, pointy-eared, and toothy elf-like" dolls that were created by Kasing Lung, are the most popular since being created in 2019.

Wang Ning reportedly has a net worth of more than $22 billion. The toy company's revenue skyrocketed after the Monster series and Labudu dolls burst onto the scene. Pop Mart had a 726.6 percent increase in revenue and instantly became the retailer's top-earning doll. Wang's personal wealth has made him one of the richest people in China, and the country's youngest billionaire.

The Labudu dolls are sold worldwide, and according to The Economic Times, Wang became a billionaire overnight after $1.6 billion worth of dolls were sold in one day. The dolls went viral after the mobile app for Pop Mart skyrocketed to No. 1 in the United States. Celebrities like Rihanna, Emma Roberts, and Dua Lipa are reportedly fans of the dolls, and the phenomenon of the exponential sales is being referred to as “Labubu Mania.”

Pop Mart has a variety of dolls and products in addition to the blind box dolls, including mugs, wireless chargers, phone cases, bags, pendants, and scene sets. Another artist working with Pop Mart is Hong Kong artist Kenny Wong. Kenny designed the round-faced, wide-eyed doll known as Molly, according to the South China Morning Post.

Wang graduated from Zhengzhou University in 2009 with a degree in advertising. He worked at the digital media company Sina Corporation for one year before he decided to open his own business. Wang now has licensing deals with Universal Studios and Walt Disney, and his dolls are sold in reatil stores as well as online through reatilers such as Amazon and Urban Outfitters.

While the dolls may have started out being $10, that is no longer the case for most items. The most popular dolls now cost between $20 and $30, and other dolls can sell for $960.