
Pop Mart's Wang Ning Loses Billions as Labubu Hype Fades
Pop Mart's Wang Ning, once worth $27 billion due to the Labubu plush toy craze, has seen $6 billion of his net worth evaporate as the toy's popularity wanes, stock plunges, and analysts downgrade the company's valuation amid signs of fad fatigue and reliance on a single product.


