Evan Vucci/AP President Donald Trump has been overtaken on Forbes' list of billionaires by a 24-year-old pharmaceuticals heir.
- 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 and his wife gave him a fifth of the business, Bloomberg reported.
- Eric's Instagram shows him posing with celebrities including Rihanna, Bella Hadid, Yao Ming, Lily Aldridge, Princess Charlene of Monaco, and Carla Bruni Sarkozy.
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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).
The overnight billionaire was born in Seattle, schooled in Beijing then Hong Kong, and graduated from the University of Pennsylvania's Wharton School with a degree in finance last year, according to an article on Wharton's website. He went on to pursue a master's degree in global affairs at Beijing's Tsinghua University as a Schwarzman Scholar, the article says.
