India, June 19 -- 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.

According to Forbes's Real-Time Billionaires List, the Beijing-based chairman i...