A 24-year-old man has become a billionaire overnight thanks to his parents who transferred him a quarter of the family company's shares.
Eric Tse, who graduated with a finance degree from the University of Pennsylvania last year, was handed approximately HKD$2.98 bn (£296m) on Tuesday, making him the biggest shareholder of the Sino Biopharmaceutical company.
He was named an executive director and member of the company's executive board committee, according to the company's statement on Wednesday.
Although he intends to stay away from the spotlight in the company, he is seen active on social media as he often posts pictures of himself partying with celebrities like Rihanna and Bella Hadid .
He also share snapshots with former NBA basketball star Yao Ming and Olympic gold medalist swimmer Sun Yang.
He appeared to have close ties with mainland Chinese politicians and has met some royals such as Princess Charlene of Monaco and former French first lady Carla Bruni.
He appears as a director on at least five other company boards in Hong Kong, including Charoen Pokphand Skyland Group Ltd., a firm that uses the name of the conglomerate of Thailand’s richest family, according to Bloomberg .
Outside of his parents, his older sister Theresa Tse has joined the company and become the chairwoman in 2015, which she holds 11 per cent of the company's capital share.
The combined value of Sino Biopharmaceutical shares held by the family is about $8.5 billion, Bloomberg calculations show.
