This billionaire's fortune soared $20B in 2025 alone
Wang Ning, the CEO of Chinese toy giant Pop Mart, has seen his fortune jump by $20 billion this year—reaching about $27.5 billion by August 2025.
That leap pushed him from 400th to 79th on Bloomberg's billionaire list, passing even big tech names like Peter Thiel.
What's wild is that Wang did it through collectible toys, not AI or cloud computing.
Plushie profits
Pop Mart's stock shot up over 250% in 2025, mostly thanks to its hit plushie—the monster-like Labubu doll.
The Monsters collection (which includes Labubu) brought in nearly 4.8 billion yuan and made up more than a third of the company's total revenue for the first half of the year.
Operating profits also jumped fivefold to 6 billion yuan, heavily influenced by the Labubu craze.
From toy to treasure
Pop Mart went public in Hong Kong at under $6 a share in late 2020; by mid-2025, its American depositary shares on the US OTC market were trading near $44 each.
While most new billionaires are riding the AI wave, Wang's story stands out—he built a global fanbase (and his wealth) on a viral collectible that everyone wants on their shelf.