Wang Ning, founder of firm behind Labubu dolls, loses ₹53,000 crore in just 1 month
Chinese billionaire Wang Ning, Labubu doll-maker Pop Mart's Founder, lost $6 billion (₹53,000 crore) in just one month, Forbes reported. His wealth dropped to $21.6 billion in September from $27.5 billion in August, when he'd become richer than Alibaba Co-founder Jack Ma. This comes as Pop Mart shares have dipped 20% since August 28 over weakening demand for the dolls.