This is the 24-year-old Wharton graduate who, on Tuesday, became an overnight billionaire when his parents gave him around $3.88 billion in their family biomedical company’s shares.
Eric Tse’s globetrotting lifestyle alongside the rich and famous came firmly into the spotlight after he was handed around a fifth of Sino Biopharmaceutical Ltd ‘as a gift at nil consideration’, according to a statement from the business.
The Wharton School of Finance grad, who was born in Seattle but grew up in Hong Kong, is said to have requested not to be part of any billionaire or wealth ranking lists, instead ‘recommending participating in such nominations in the name of the Tse Ping family’.
But if his Instagram is anything to go by Tse is not afraid to mingle with high profile names and enjoy partying with those in the spotlight.
Eric Tse’s globetrotting lifestyle alongside the rich and famous came firmly into the spotlight after he was handed around a fifth of Sino Biopharmaceutical Ltd ‘as a gift at nil consideration’, according to a statement from the business. He is pictured with model Bella Hadid
Eric became an overnight billionaire when his parents gave him around $3.88 billion in their family biomedical company’s shares. He is pictured partying with Rihanna
His social media page, where he boasts around 10,000 followers, shows the billionaire with former first lady of France Carla Bruni and Princess Charlene of Monaco
His wealth is now greater than Starbucks’ founder Howard Schultz at $3.5 billion and Snapchat’s CEO Evan Spiegel at $2.1 billion and there is no tax on gifts or inherited wealth in Hong Kong. He is pictured with model Lily Aldridge, left
The move to hand over shares will make Eric one of Asia’s richest people.
It will also make him one of the richest 550 people in the world, according to Forbes.
His wealth is now greater than Starbucks’ founder Howard Schultz at $3.5 billion and Snapchat’s CEO Evan Spiegel at $2.1 billion and there is no tax on gifts or inherited wealth in Hong Kong.
And his social media page, where he boasts around 10,000 followers, shows the billionaire partying with Rihanna and models Bella Hadid and Lily Aldridge.
It also shows he watches basketball games with Chinese star Yao Ming and rubs shoulders with tech billionaire Bill Gates.
He also hangs out with heads of state including former first lady of France Carla Bruni and Princess Charlene of Monaco.
And his extensive travels around the world show the former CEO of a recruitment company snowboarding and at the soccer world cup in Russia last year.
Other pictures show Tse in Monument Valley and swimming with dolphins in Dubai.
Eric pictured watching basketball games with Chinese star Yao Ming
The move to hand over shares will make Eric one of Asia’s richest people. It makes him one of the richest 550 people in the world, according to Forbes. He is pictured at Facebook’s HQ
Sino Biopharmaceutical Ltd was founded by his father, second right, and the family, including mother Cheng Cheung Ling, left, and sister Theresa, right, now has a net worth of $8.5 billion
Eric will become executive director of the company’s executive board committee. That role will earn him $498,000, not including any bonuses, each year
He also enjoyed a visit to the Instagram and Facebook headquarters in Silicon Valley.
And has posted pictures of the New York City skyline, in front of the Eiffel tower in Paris and in Rome.
Tse, whose parents are both executive directors at Sino Biopharmaceutical Ltd.
He will become executive director of the company’s executive board committee.
That role will earn him $498,000, not including any bonuses, each year.
Sino Biopharmaceutical Ltd was founded by his father and the family, including mother Cheng Cheung Ling and older sister Theresa, now has a net worth of $8.5 billion.
Eric’s sister signed the company statement which said the shares had been transferred ‘to refine the management and inheritance of family wealth’.
His father Tse Ping was previously a committee member of the Chinese People’s Political Consultative Conference, CNN reports.
Pictures show the 24-year-old with mainland Chinese politicians. He attended the 70th anniversary of the founding of the People’s Republic of China in Beijing earlier this month which was invite only.
Tse graduated with a finance degree from Wharton before becoming a Schwarzman Scholar at Beijing’s Tsinghua University.
His is a director on at least five other company boards in Hong Kong, The Sydney Morning Herald reports.
Eric is pictured attending the 70th anniversary of the founding of the People’s Republic of China in Beijing earlier this month which was invite only
Tse graduated with a finance degree from Wharton before becoming a Schwarzman Scholar at Beijing’s Tsinghua University. His is a director on at least five other company boards
His extensive travels around the world show the former CEO of a recruitment company snowboarding and at the soccer world cup in Russia last year. Other pictures show Tse in Monument Valley and swimming with dolphins in Dubai
The Wharton School of Finance grad, who was born in Seattle but grew up in Hong Kong, is said to have requested not to be part of any billionaire or wealth ranking lists, instead ‘recommending participating in such nominations in the name of the Tse Ping family’