24-year-old son, Eric Tse has become a billionaire overnight after his parents, Tse Ping and Cheng Cheung Ling gifted him a share worth $3.5 billion (N1.3 Trillion).
Eric Tse was born into one of China’s richest families and recently graduated from the University of Pennsylvania’s prestigious Wharton School of Finance.
Eric Tse’s father and founder of Sino Biopharmaceutical Ltd and his mother, transferred around a fifth of their family company’s share capital worth a whooping $3.8 billion to him, Bloomberg reported.
Although Eric was born in Seattle in the US, he attended primary school in Beijing and secondary school in Hong Kong before graduating with a finance degree from the Wharton School of the University of Pennsylvania.
Eric has, however, said that he will try to keep a low profile so as to discourage efforts by media organizations to put him on global wealth rankings, adding that he would want the fortune to be ascribed to the Tse Ping family.
In another statement on Wednesday, May 6, the company named Tse the executive director and member of the Sino Biopharmaceutical’s executive board committee.
His shares would be held in holding companies like Thousand Eagles Ltd. and Remarkable Industries Ltd.
Eric is also the founder of China Summit Foundation, a charitable organization that supports education and cultural initiatives. He was a Schwarzman Scholar at Beijing’s Tsinghua University.
Tse is also active on Instagram, where he shares shots of himself parasailing and partying with Rihanna. Other selfie-mates include model Bella Hadid, basketball star Yao Ming and Monaco’s Princess Charlene. His most recent post is from Beijing, where he attended the 70th anniversary of the People’s Republic of China.
