Source: http://www.crazydaysandnights.net

This newly minted Asian billionaire is suffering from the same complex that got the last one running from the law.

He loves selfies with celebrities and considers himself a yachting whale.

The thing is though, he is only rich because of mom and dad.

Eric Tse (24)

‘Insta-billionaire’: A 24-year-old pharma heir who parties with celebrities became richer than Donald Trump overnight

A 24-year-old who parties with celebrities became richer than Donald Trump overnight after his parents gifted him a stake in their pharmaceuticals company worth about $3.8 billion, according to Bloomberg.

Eric Tse became an “insta-billionaire” after Sino Biopharmaceutical’s billionaire founder Tse Ping and his wife, Cheng Cheung Ling, gave him a fifth of the business, Bloomberg reported. Sino also made Eric an executive director and added him to its executive board committee, complete with an annual salary of HK$3.9 million ($498,000) before bonuses, Bloomberg said.

Eric’s Instagram shows him posing with music superstar Rihanna, supermodel Bella Hadid, and 7-foot-6 Chinese basketball legend Yao Ming. He’s also snapped photos with Victoria’s Secret model Lily Aldridge, Princess Charlene of Monaco, and Carla Bruni Sarkozy, the former First Lady of France.

Eric’s newfound wealth has catapulted him into the richest 550 people in the world, according to Forbes’ latest list of billionaires. He’s not only passed Trump ($3.1 billion) but also Starbucks’ founder Howard Schultz ($3.5 billion), and he’s worth far more than Snapchat’s co-founder and CEO Evan Spiegel ($2.1 billion).- Source

Meet the overnight billionaire: A 24-year-old whose parents gifted him $3.8 billion

Need a fail-proof recipe for instant billionaire? Just take the 24-year-old son of pharmaceutical moguls and add $3.8 billion in shares from the family business, gratis.

Eric Tse, son of Sino Biopharmaceutical executive directors Tse Ping and Cheung Ling Cheng, became one of the wealthiest people in Asia overnight when his parents gifted him about a fifth of the company’s share capital earlier this week — a stake worth more than $3.8 billion.

The move catapulted Tse into China’s growing class of ultrarich and onto Forbes’ ranking of the 550 wealthiest people on the planet. He is now worth more than President Trump and director Steven Spielberg.

The transfer was meant to “refine the management and inheritance of family wealth,” the company said in a statement. To that end, Tse also was named an executive director of Sino Biopharmaceutical and added to its executive board committee. He will earn a little less than $500,000 a year plus bonuses. – Source

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