Pop Mart CEO Wang Ning now richer than Jack Ma

Pop Mart International Group chief executive officer Wang Ning is now officially richer than Alibaba cofounder Jack Ma.

According to Forbes estimates, 38 year-old Ning, the youngest of the 10 richest Chinese billionaires, earned a fortune of $27.5 billion largely based on a company stake. He now ranks eighth, ahead of Jack Ma ($26.7 billion), the Real-Time Billionaires List records.

Forbes Middle East, meanwhile, reports that Pop Mart’s Hong Kong-listed shares have soared over 250 percent this year.

Recently, Pop Mart released mini Labubus, a version of the viral doll that can be attached on mobile phones.

Pop Mart was on track to meet its targeted revenue goal of 20 billion yuan ($2.78 billion) in 2025. Wang added that "30 billion ($4.18 billion) this year should also be quite easy."