China's 24-year-old Eric Tse becomes a billionaire in less than 24 hours

GUWAHATI: Eric Tse, from China, is making headlines, as he was gifted nearly $4 billion from his family on Tuesday, according to sources.

The 24-year-old is a graduate of Wharton School of Finance and was recently gifted $4 billion by his family. Now, he has become an overnight billionaire who happens to hang out with pop star Rihanna and basketball legend Yao Ming.

His parents, Tse Ping and Cheng Cheung Ling, are executive directors of a Chinese pharmaceutical giant, Sino Biopharmaceutical.

Eric Tse became one of the richest people in Asia in less than 24 hours after his parents gifted him about one-fifth of the company’s share capital earlier this week. The 24-year-old was also named the executive director and a member of the company’s executive board committee.

Interestingly, Tse is now worth more than US President Donald Trump, legendary director Steven Spielberg, and Starbucks founder Howard Schultz, according to Forbes’ list of world’s richest.

The company said in a statement the purpose of the huge transfer of money was to “refine the management and inheritance of family wealth”. Tse will now earn close to $5,00,000 a year with bonuses.

Tse will also be a part of the company's executive board.

It is also to be mentioned that, his father Tse Ping was previously a committee member of the Chinese People’s Political Consultative Conference (CPPCC), the country’s top political advisory body.

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