Pop Mart CEO Wang Ning's Billion Dollar Net Worth Revealed Amid Labubu Mania
The dolls are coming to a theater near you.
Over a year after Kasing Lung’s fuzzy line of Labubus went viral on social media, Pop Mart—the company who sells the popular toy—and Sony Pictures Entertainment announced they’re creating a movie about the tiny creatures.
In a joint March 19 press release, the companies stated “the film will be a live-action and CGI hybrid bringing LABUBU’s whimsical world to the bring screen,” per Business Insider.
Though the project is “still in early development,” there’s already an impressive team bringing the toy’s wide, mischievous smile to life. According to the press release, Wonka filmmaker Paul King will direct and co-write the film with screenwriter Steven Levenson, the author of Dear Evan Hansen. Kasing will also serve as the executive producer alongside The Martian’s Michael Shaefer and rising producer Wenxin She.
Kasing’s involvement in the forthcoming movie is fitting, as he debuted the Labubu character in his 2017 storybook The Monsters. While an already intriguing design, fans couldn’t help but fall in love with its pastel features once Pop Mart turned them into a collectible toy in 2019. The craze hit new heights five years later, when celebrities like Blackpink’s Lisa, Simone Biles and Kylie Jenner started adding these trinkets to their purses.
“If I fly to New York, I go to Miami, I try to find Pop Mart there,” Lisa told Vanity Fair that year. “Paris, everywhere. Kind of like finding treasure.”
Indeed, celebrities and consumers started to treat the blind box item like a prize, showing off their large collections of standard and limited-edition Labubu’s on social media. And with this meteoric rise, Forbes reported the CEO of Pop Mart Wang Ning’s net worth ballooned to $22.1 billion last year.
Photo by Robert Prange/Getty Images
Meanwhile, Pop Mart North America’s Head of Licensing Emily Brough revealed the furry monsters generated “more than $419 million in revenue” in 2024.
“The passion and demand we have seen for Labubu over the last few months, and most recently with the Into Energy release, has surpassed our expectations!” the executive wrote in an email to the outlet, citing one of its product series. “It’s been wonderful to see the impact our mischievous and lovable Labubu is having globally.”
Until the Labubu film hit theaters, check out all the upcoming movies you need to know about…
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Niko Tavernise/Universal Pictures and Amblin Entertainment
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