The Chinese heir inherited a one-fifth stake in his parents’ pharmaceuticals company, Sino Biopharmaceutical, making him US$3.8 billion richer overnight.
Don’t let his youthful, boyish looks fool you – 24-year-old Eric Tse isn’t just a pretty face who happens to hang out with the likes of Rihanna, Bella Hadid and Carla Bruni.
In October last year, the Chinese heir inherited a one-fifth stake in his parents’ pharmaceuticals company, Sino Biopharmaceutical, making him richer than US President Donald Trump (at the time). As there are no taxes on gifts or inherited wealth in Hong Kong, where the company is based, he became US$3.8 billion richer overnight.
Eric’s new post also comes with annual salary of HK$3.9 million (or US$498,000) before bonuses. On top of that, he has been named the firm’s executive director and is now a member of the executive board alongside his parents, Tse Ping and Cheng Cheung Ling, and older sister Theresa. According to Bloomberg, the total shares of the family amount to US$8.5 billion.
What does he plan to do with his newfound wealth and does that involve any of his celebrity friends? We – along with 36.6k followers – look to his Instagram (@erictse0816) for clues.
Though certain posts seem to have been deleted following the headlining news, a few quick have managed to catch a glimpse of the glitzy side of his life. Here’s one of him wrapping his arm around supermodel Bella Hadid at a Bulgari party in Venice:
And then there was the time he attended the Basketball World Cup Final 2019 with Chinese basketball legend Yao Ming.
How many people can say they have taken a selfie with queen RiRi and a cut-out of her face in New York?
He has also had snapshots with Victoria’s Secret model Lily Aldridge, Princess Charlene of Monaco and former First Lady of France Carla Bruni.
We don’t know if he’ll be splurging on parties, however, as the young billionaire appears to be busy attending conferences and giving talks at panel discussions these days.
Born in Seattle and schooled in Beijing and Hong Kong, Eric graduated from the University of Pennsylvania’s Wharton School with a degree in finance. While there, he co-founded the Penn Wharton China Summit (PWCS), which has become one of the most widely attended conferences focusing on China in American academia.
“Something that I would do better as a freshman than a senior – I wanted to see my initiative through college and leave a legacy behind,” he said of the initiative, as reported by Chinese media. “As an international Chinese student, I thought it was best to serve my immediate community.”
But founding PWCS wasn’t enough for the patriot, who reportedly said, “With PWCS, I created a platform to encourage students to return to China. But at the same time, I haven’t created an actual path to help them.”
After pursuing a master’s degree in global affairs at Beijing’s Tsinghua University as a Schwarzman Scholar, he took on the role of executive director at Liepin North America to assist in its aim to support jobseekers with international backgrounds. He has since taken on more leadership roles in at least five other company boards in Hong Kong, according to SCMP.
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Despite his great responsibilities and even greater ambitions, Eric – like most of us – occasionally takes time off to travel. Some of his most memorable travel moments include kissing a dolphin in the Bahamas, taking a helicopter ride above the majestic Alps of Mont Blanc and basking in the views at Iceland’s Blue Lagoon.
When not jet-setting around the world, he can be seen affectionately spending time with his pet cats.
He appears to have a soft side for soft toys too…
Considering how we started off about his boyish looks, we’ll just leave this shot of adorable baby Eric and his sister here.
Keep up with Eric Tse on his Instagram @erictse0816.