Pop Mart founder Wang Ning loses nearly $6 billion as Labubu demand slows

Pop Mart founder Wang Ning has lost nearly $6 billion in under a month as demand for Labubu dolls slows.
His net worth fell from $27.5 billion in late August to $21.6 billion, making him China's 14th richest person.
The company's Hong Kong-listed shares have dropped over 20%, though they remain 180% up this year.
Pop Mart said it raised production to meet demand, which made the toys easier to buy and cooled resale prices.

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