This man is China’s 10th richest billionaire, creator of viral Lububu dolls, Dua Lipa, Rihanna now obsessed with them, his net worth is Rs..., name is...

These days the craze of a special toy is taking the internet by storm. A special doll which is making headlines as many big Hollywood celebrities have expressed their love and some have even gone a step ahead with their obsession with the doll. We are talking about the Labubu dolls. From BLACKPINK’s Lisa and many famous Asian actors including Bollywood’s Ananya Panday and Sharvari to Hollywood celebrities like Dua Lipa, Rihanna and many others everyone is obsessed with these Asian dolls.  

China’s 10th richest is Lububu’s founder Wang Ning  

Founder of Pop Mart International Group, Wang Ning, is the creator of Lububu dolls. The China based company makes pop toys right from their designing, developing, marketing and selling. They are especially popular for their collectible “blind boxes.” These toys are based on various cultural characters made into toys like Labubu, Pucky, Molly, and Skullpanda which are part of The Monstors, a group featuring characters based on Nordic fairy tales.  

Due to the immense popularity of Lububu dolls all over Asia, Europe and the US, Wang Ning has emerged as China’s 10th richest billionaire. The 38-year-old founder and CEO has recently added a whopping USD 1.6 billion to his net worth in just one day. After this massive jump, his net worth now stands at USD 22.7 billion (Rs 19,59,32,78,00,000.00), all because of the Labubu craze. The Hong Kong-listed toy maker has increased to a market capitalization of over US$38.2 billion (86,30,10,00,000) 

What is Labubu 

Labubu is a character which looks like a weird bunny which Hong Kong artist Kasing Lung created in 2015. He created “The Monsters” series of which Lububu is a part of. The character became famous only after Wang Ning’s Pop Mart started producing it in 2019 in mass numbers. These toys are packed in “blind boxes,” which means that when customers buy them, they don’t know which version they’re buying, a marketing strategy that has created a massive interest among the consumers. The cost of these boxes is around 16 US dollars 

This fame has gone to another level since global celebrities have included them in their lifestyle making them one of the biggest fashion accessories. They have charmed especially the young generation with their celebrity appeal. These celebrities collect these toys and often attach them to their luxury bags like Rihanna does.