Monday, January 20, 2020
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Story of Eric Tse, An Overnight Billionaire Who Inherited A Stake Worth $3.8 Billion

Eric Tse inherited a stake worth $3.8billion from family business

If you’re born into a very wealthy family, you will definately be rich at a point in time through inheritance. It now depend on you whether you would be able to maintain your level or not.

Such is the case of Eric Tse who was gifted about a fifth of the shares from the family business, a stake worth $3.8 billion.

Eric Tse is a friend of American singer Rihanna

Tse now ranks among the 550 wealthiest people on the planet, according to Forbes’ list of the world’s richest, and is now worth more than President Trump, Steven Spielberg and Starbucks founder Howard Schultz.

Born in Seattle but schooled in Beijing and Hong Kong, Tse is a recent graduate of the University of Pennsylvania’s Wharton School of Finance. After graduation, Tse became a Schwarzman Scholar at Tsinghua University in Beijing.

He is listed as a director on at least five other company boards in Hong Kong, according to the South China Morning Post, including a firm named for the conglomerate of Thailand’s wealthiest family. Tse’s billionaire father was once a member of the Chinese People’s Political Consulative Conference, China’s top political advisory group.

“My parents, seniors and elders genuinely believed in my potential and helped me without expecting any return,” Tse said in a Wharton article spotlighting him. “By the time I was 19, I was thinking about how I could deliver the same positive energy and passion to the people around me.”

Tse may be a newly minted billionaire, but his star-studded Instagram posts show that he’s occupied the world of the ultrawealthy for years. He smiles next to Yao Ming at the Basketball World Cup, wraps his arm around supermodel Bella Hadid at a Bulgari party in Venice, poses poolside with Princess Charlene of Monaco and snaps a selfie with singer Rihanna in New York. Many of his shots with celebrities are captioned “#casual.” When he’s not among the stars or at Wharton, other posts show Tse jetting over the French Alps, swimming with dolphins in the Bahamas and parasailing in Thailand.

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Tse joins the ranks of China’s ultrawealthy just as the nation surpasses the United States to claim the biggest share of the world’s richest people for the first time. A report from Credit Suisse this week showed that China accounts for 100 million of those who rank among the top 10 percent of earners on the planet. The U.S. claims 99 million people from the top 10 percent but still outranks China in millionaires, with about 40 percent of the world’s total, according to the report.

Despite his new status, Tse is not interested in being recognized on global rich lists, according to the company statement.

“In response to nomination for Billionaire List or wealth ranking organized by media or other organizations, [Tse] will endeavour not to participate in such rankings in his own name, and would recommend participating in such nominations in the name of the Tse Ping family,” the company said.

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Akinola
Akinola
Akinola Olusegun is a blogger and publisher of this blog, money247.com.ng. You can also check out his other blogs : segtv.com.ng (videos & news), letgoonline.com.ng (e-commerce), letgoonline.com.ng/blog (news) among others. Follow him via any or all of his social media pages to get fresh posts update.
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