Latest news with #Real-TimeBillionairesList
Time of India
a day ago
- Entertainment
- Time of India
Meet Wang Ning, Pop Mart CEO who's viral Labubu doll made him one of China's top 10 billionaires with a $22.7 billion fortune
Labubu, a Chinese doll, is a worldwide phenomenon dominating the internet. The strange toothy-eyed plus doll has turned into a viral hit, fashion statement and pop culture symbol, particularly among Gen Z collectors. These blind boxes and limited-edition dolls have created huge demand, ranging from the long store lines to resale prices going into six figures. This viral craze has made founder of Pop Mart International, Wang Ning, a top 10 richest billionaire in China with a net worth of more than $22 billion. Labubu trend makes Pop Mart founder Wang Ning China's top 10 billionaires Behind the dynamism of Pop Mart's explosive expansion is its 38-year-old founder, Wang Ning. A Zhengzhou University graduate in advertising, Wang opened the company's first store in 2010 in Beijing's tech district, Zhongguancun. The store initially sold comics and phone accessories but shifted to collectible toys when Wang saw a gap in the market. In 2016, he teamed up with artist Kenny Wong to introduce the Molly doll series, which turned out to be a business success. But it was Labubu that rocketed Pop Mart and Wang to the stratosphere. Wang is now China's 10th richest man with a net worth of $22.7 billion , according to Forbes' Real-Time Billionaires List . by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2025 年最紓壓的農場遊戲！無需安裝 東加：島嶼農場 立即播放 Undo He is also the youngest member of China's elite billionaire club. Labubu dolls : From blind box toy to international sensation Labubu dolls, with their unkempt hair, smiling faces, and alternative appeal, were created by Hong Kong designer Kasing Lung in 2019. Available in forms of plush toys, vinyl characters, and blind box mystery, the collectible series plays off the excitement of surprise and rarity. Customers usually have no idea what figure they'll receive until they unpack the box; a surprise that has been too tempting for Gen Z and millennial shoppers to resist. From the unboxing on social media to streetwear combinations, Labubu dolls have gone mainstream. They have been seen up close with such celebrities as Rihanna, Dua Lipa, and BLACKPINK member Lisa, who have contributed to the doll's transformation from bohemian cult favourite into global fashion phenomenon. Pop Mart becomes a $365 billion powerhouse thanks to Labubu At the heart of this whirlwind success is Pop Mart International Group, the toy firm behind Labubu. Pop Mart has expertise in designer toys and blind box culture, combining art, collectability, and consumer psychology. The company's success has been meteoric, largely owing to its skill in transforming toys into fashionable lifestyle products. Pop Mart shops all over Asia and online websites often sell out in minutes, with resale prices of Labubu dolls reaching two to three times the original price. Some limited versions even sell for six-figure figures, such that they become highly sought-after amongst collectors. Pop Mart was listed in December 2020 at a market cap of $12.5 billion, raising $676 million in its IPO on the Hong Kong Stock Exchange. Ever since, its expansion has been proceeding at a remarkable rate. Shares have tripled, with just HK$365 billion in 2025 alone. Pop Mart, in its latest quarterly filing, reported a 170% year-over-year jump in sales, led by Labubu's aggressive growth. This expansion has prompted comparisons to business groups like Funko and even luxury fashion brands as far as cult-like status and customer loyalty are concerned. How blind boxes and social media transformed Labubu into an international sensation The trend is fueled by a combination of creative design, nostalgia, and healthy online communities, Pop Mart's brand executives say. Enthusiasts use social platforms such as TikTok and Instagram to post sophisticated display arrangements, exchange rare toys, and even dress up Labubu toys as accessories. The blind-box model introduces a gamified experience consumers aren't merely purchasing a product; they're engaging in a game of fortune. Coupled with limited releases, seasonal drops, and celebrity promotion, Labubu has become a cultural phenomenon. Maybe due to its quirky looks, Labubu has been polarizing. Some have called it "creepy," "overhyped," or even "odd." Others see it as an ingenious combination of street culture and collectible art. This divisive attraction has only spawned more attention, making every new drop a spectacle. Also Read | 5,000-year-old dress discovered in Egyptian tomb reveals the ancient craftsmanship
Indian Express
2 days ago
- Entertainment
- Indian Express
‘Ugly-cute' Labubu doll craze places Pop Mart CEO Wang Ning among China's richest, is worth $22.7 bn
Labubu, the quirky 'ugly-cute' doll, has become an internet sensation and a favourite among celebrities, igniting a new wave of fashion trends. From Rihanna and BLACKPINK's Lisa to Ananya Panday, stars around the world have been spotted showing off their Labubu dolls. Amid the global craze, Wang Ning, CEO of Pop Mart International Group, has now become one of China's ten richest individuals, according to Forbes' Real-Time Billionaires List. His net worth is now estimated at a staggering $22.7 billion, primarily due to his stake in Pop Mart. Created by Hong Kong artist Kasing Lung, the creation first entered the toy industry in 2015. However, it was 2019 when the sales of Labubu dolls skyrocketed after a collaboration with the Chinese toy giant, Pop Mart. The global craze for Labubu has played a key role in fueling Pop Mart's growth. In 2024, the company's net profit reportedly jumped by 188 per cent, with total sales more than doubling from the previous year to reach roughly 13 billion yuan (around $1.8 billion), the report said. Revenues from the Monsters collection, which features Labubu, soared by an extraordinary 726.6 per cent, serving as a major catalyst for the rise in Pop Mart's value. Labubu dolls, priced between $20 and $30, are sold in 'blind boxes', a format where buyers only discover which design they have received after unboxing. This element of surprise sparked a trend across social media platforms like TikTok and Instagram. In an interview with Hypebeast, Lung shared that his time in the Netherlands was a major source of inspiration for the character. 'I liked to read storybooks and was influenced by ancient European elf legends,' he explained. Reflecting on his early years, Lung added, 'There were no game consoles or computers, so I had to draw dolls with a pen, so I had the idea of painting fairy tales since I was a child.'
Hindustan Times
2 days ago
- Entertainment
- Hindustan Times
Ugly-cute makes ultra-rich: Labubu CEO Wang Ning becomes one of China's youngest billionaires
You might not get the Labubu craze, and quite frankly, you wouldn't be the only one. The scruffy, wide-eyed creature that some lovingly call 'ugly-cute' has divided the internet. But whether you love it, hate it, or just don't understand why it's everywhere, there's one undeniable truth: it's made its creator a billionaire. Wang Ning, the founder of Pop Mart International Group, the company behind the viral Labubu toys, has just become one of China's ten richest individuals. As the Labubu continues to fly off store shelves across Asia, Europe, and the U.S., the 38-year-old mogul has climbed to the upper echelons of the country's wealthiest. A post shared by Kasing Lung (@kasinglung) According to Forbes's Real-Time Billionaires List, the Beijing-based chairman is now the 10th richest man in China, with a net worth of $22.7 billion — a fortune largely driven by his stake in Pop Mart. He's also the youngest person to break into this elite billionaire circle, rubbing shoulders with heavyweights like ByteDance founder Zhang Yiming, Nongfu Spring's Zhong Shanshan, and Tencent's Ma Huateng. Pop Mart, currently valued at HK$365 billion, is trading at over 50 times its estimated 2025 earnings — a figure that speaks to the toy's sudden cult following. According to preliminary results announced via the Hong Kong Stock Exchange in April, the company reported a 170% year-on-year growth in sales during the first quarter of this year. Originally launched in 2019 and designed by Hong Kong artist Kasing Lung, Labubu toys are part of the 'blind box' phenomenon. Fans buy a sealed box without knowing which figure they'll get, an irresistible combination of mystery, collectibility, and gamified luck that appeals especially to Gen Z and adult collectors. The dolls, with their oddball charm, have now entered global pop culture. Rihanna, Dua Lipa, and Blackpink's Lisa are both known collectors, helping to rocket Labubu from niche fandom to viral sensation. This cultural crossover is truly translating into some serious cash.
Yahoo
11-04-2025
- Business
- Yahoo
Trump Media stock spikes 8% — and the reason why just might be hilarious
Amid early market turmoil on Wednesday, shares of Trump Media spiked 8%. President Donald Trump posted on his social media site, Truth Social, on Wednesday morning: 'This is a great time to buy!!! DJT.' DJT is both the stock ticker for Trump Media and Technology Group (DJT) and the president's initials. Shares of Trump Media, the company that owns Truth Social, started the day at $16.60 per share at 9:30 a.m. ET. The president's post came seven minutes later — and three minutes after that, at 9:40 a.m. ET, the company's stock price had climbed to $17.47. Following news that Trump would pause most tariffs for 90 days, Trump Media's stock price has continued to rise throughout the day. Shares reached $20.32 at 2:40 p.m. ET. Earlier in the day, Trumpposted: 'BE COOL! Everything is going to work out well. The USA will be bigger and better than ever before!' The president's ownership of Trump Media, which has a market capitalization of more than $4 billion, made him one of the world's 500 richest people last year, with a fortune of as much as $6.5 billion. Today, Forbes' Real-Time Billionaires List estimates that the president has a net worth of $4.5 billion. According to a regulatory filing, a trust overseeing the president's stake in Trump Media could soon sell up to 115 million shares. Trump Media filed to register up to 142.5 million shares and warrants for sale, according to a filing with the Securities and Exchange Commission. That includes 114.75 million shares of common stock held by Trump's trust, which is controlled by Donald Trump, Jr., the president's eldest son. Axios first reported on the filing. The SEC will need to consider the filing effective before stockholders such as Trump's trust and ARC Global, which sponsored Trump Media's special-purpose acquisition company, can sell their shares. In a statement, Trump Media denied that the filing indicates Trump's trust or other insiders plan to sell their shares. 'To be clear, these shares were already registered last June on an S-1 form, and today TMTG submitted a routine filing that re-registers them on an S-3 form in order to keep the Company's filings effective,' the company said. 'In fact, there currently is no open window for any affiliate to sell shares.' –William Gavin contributed to this report. For the latest news, Facebook, Twitter and Instagram. Sign in to access your portfolio
Forbes
09-04-2025
- Business
- Forbes
Why This Wall Street Billionaire Loves Trump's Tariffs
Thomas Peterffy, founder and CEO of Interactive Brokers listens a question after addressing the World Federation of Exchanges (WFE) annual meeting in Paris on October 11, 2010. The WFE groups leading financial markets. AFP PHOTO ERIC PIERMONT / AFP PHOTO / Eric PIERMONT (Photo credit should read ERIC PIERMONT/AFP via Getty Images) AFP via Getty Images From Bill Ackman to Elon Musk, some of President Trump's most enthusiastic billionaire boosters are publicly breaking with the president over Trump's 'reciprocal' tariffs plan, which will apply a base 10% levy to all countries and additional tariffs for countries with larger trade deficits. Thomas Peterffy is the opposite: A tycoon who reluctantly and quietly backed each of Trump's three presidential campaigns, but who now is all in on Trump's controversial plan to enact tariffs on nearly every other country, upending the global economy and supply chains in the process. 'I think it gives an opportunity to many entrepreneurs to gear up for producing and inventing either the same things that foreign countries sell us at cheap prices, or proper substitutes for them,' Peterffy told Forbes via a video interview from his Palm Beach mansion on Tuesday afternoon. 'Because the foreign products will be more expensive, we'll become competitive internally with internal production.' Peterffy, who lives three doors down from Trump's Mar-a-Lago club, where he's a paying member, says he has no patience for the billionaire turncoats who loved Trump until he unveiled his signature economic policy. 'I think that they are short term, greedy, looking after their own pockets.' Peterffy does not seem like a likely backer of Trump's tariffs. A lifelong Republican in the establishment mold, he fled Hungary for the U.S. in 1965 at 21 years of age and became a dyed-in-the-wool capitalist on Wall Street trading commodities before founding Interactive Brokers, a trading platform used by retail and institutional investors, in 1993. His net worth of $45 billion makes him one of the 30 richest people in the world, according to Forbes' Real-Time Billionaires List. In GOP megadonor circles, Peterffy – who has given over $32 million to various Republican candidates and PACs since 2000 – has carved a niche for himself as an arch critic of socialism and advocate of free-market policies. He has never publicly called for the U.S. to impose tariffs—until now. 'Do I believe in free markets? Yes, but I don't think that these free markets have been free on the opposite side, because we're competing with a lot of subsidies,' says Peterffy, who defended Trump's slapdash formula for calculating tariffs on specific countries (dividing a country's trade surplus by its total export value and then cutting that number in half). 'I hope it is the plan,'says Peterffy. 'I worry that when people feel that this is just a negotiating position and is going to change, then they will be less incentivized to gear up to produce substitutes.' Fears of tariff-induced recession loom. Goldman Sachs economists told clients in a Sunday note the probability of a recession stood at 45%. JPMorgan economists provided 60% recession odds at the end of last week. Traders on Interactive Brokers' prediction market ForecastTrader currently have the odds at 38%. But Peterffy says he isn't worried about a potential recession: '[It] is going to take a lot of effort and investment and hiring and training new labor, putting in new machinery, building new factories. So it's an economic boom.' Stock market investors apparently disagree. The S&P 500 has fallen 12% across four consecutive trading sessions in the red, including Tuesday's remarkable shedding of an intraday 4% gain, only to end with a loss of 1.6%. Despite the negative momentum, Peterffy says he believes markets have already bottomed out—on Monday morning. 'I think markets are going up on the short term,' he says. The billionaire also brushed off the impact of higher prices on lower-income consumers, arguing that essential goods and services will not become dramatically more expensive. 'It is certainly not food, and it is not shelter, so you're looking at plastic shit from China that is not absolutely necessary for people to have. These are not vital goods and services that you're talking about,' Peterffy says. (Prices of imported foods like coffee, nuts and cheese are all expected to rise due to tariffs, as is the cost of housing construction.) He is equally sanguine about rising car prices: 'I think [car companies] will eat some of the cost, and some [prices] will go higher, and more people will buy used cars, and it's not going to be a huge impact.' Peterffy's embrace of Trump's tariff logic is all the more remarkable, considering the tycoon's on-again, off-again attitude toward the president. He supported Marco Rubio in the 2016 Republican primaries before backing Trump's campaign in the general. He supported Trump again four years later, giving $250,000 to his reelection campaign, but did not defend him after the January 6 riots. 'I am actually not a Trump fan at all. I hope he won't run again,' he said in the summer of 2021. In the 2024 primaries he initially supported Ron DeSantis. When the Florida Governor's campaign stumbled he led a short-lived effort to draft Virginia Governor Glen Youngkin to challenge Trump (which didn't happen). Eventually, Peterffy lent his support to Trump, telling Forbes last October, on the eve of the election: 'I will [vote for Trump] not because I like him, but I will always vote for a Republican candidate because I think that the worst thing that can happen to any nation is socialism.' Asked if he has told Trump about his support for his tariffs amid the backlash from fellow billionaires, Peterffy pushed back. 'I never try to get in touch with him,' he says, though acknowledges he'll likely bump into Trump at Mar-A-Lago soon. 'He comes over when he sees me. He always does. I don't go to see him.'
