And on Tuesday he became a billionaire.
Eric Tse, who recently graduated from prestigious University Funding at the University of Pennsylvania, raised about $ 3.88 billion in the shares of his family-owned company on Tuesday.
Tse's parents are the two CEOs of Sino Biopharmaceutical Limited and on Tuesday gave him one fifth of the company's total issued shares "as a zero account gift," according to a statement from the company.
Tse, who is from Hong Kong, is the newest member of the billionaire paper club in Asia – but apparently doesn't want to be part of the Wealth Rankings. The company statement said that "he will endeavor not to participate in such rankings on his own behalf and would recommend participating in such nominations on behalf of the Tse Ping family."
The statement suggested that he wanted to keep a low profile ̵
1; however, as documented on Instagram, he rubbed elbows with the rich and famous long before the transfer. In 2017, she posed with famous models Bela Hadid and Lily Aldridge at a Bulgari party in Venice. Just a few months later, he posted a photo with singer and owner of Fenty Beauty Rihanna in New York, captioned "Coupon with My Idol."
His Instagram posts tell the story of life on a global scale – snowboarding in Japan, parasailing in Thailand, swimming with dolphins in the Bahamas.
He also posts photos of some of China's most prominent athletes, such as Olympic gold medalist Sun Yang and basketball icon Yao Ming.
He has met political leaders and royalty such as Princess Charlene of Monaco and former First Lady of France Carla Bruni – but more striking are the close ties he seems to have with Chinese politicians on the continent.
This is not surprising, since his father Zhe Ping was previously a member of the Committee of the Chinese People's Political Consultative Conference (CPPCC), the country's most important political advisory body.
On October 1, the 70th anniversary of the founding of the People's Republic of China, the younger Xie attended festivities in Beijing open only to invited guests and dignitaries.
The company's statement on Tuesday said that Tse's parents had transferred the shares to him "to improve the management and inheritance of family wealth." The document was signed by the chairman of the company Theresa Tse – Eric's sister.
Shares aside, It also gets a new position – CEO of the company's executive board. According to a statement from the company, before he was assigned to this role, he was previously the CEO of the recruitment unit in North America Liepin.
CNN Contacted This for comment.
This is part of a new wave of wealth in China. Published earlier this month, a "rich list" showed that while China's wealth is concentrated in the hands of technology entrepreneurs, pharmaceutical tycoons – such as those in the Tse family – are getting better. Pharmaceutical tycoons make up 8% of China's rich list, double that of 10 years ago.
China's young wealthy also sparked last year's viral challenge, "paired with your wealth," which later spread worldwide. The challenge involves people taking pictures, pretending to fall out of luxury cars or traveling, carrying their precious belongings in front of them as if they had fallen carelessly out of their pockets.
According to a new report released on Monday, there are also more Chinese than Americans in the richest 10% of people in the world – first.