A 24-year-old man has turned into a billionaire in Hong Kong overnight.
Eric Tse, who graduated from the prestigious Wharton Institute at the University of Pennsylvania, received a $ 3.88 billion gift from his parents - shares in his family business, according to Business Insider.
Tse's parents serve as CEOs at Sino Biopharmaceutical, and on Tuesday gave their son 20 percent of the company's shares as a gift, the company said in a statement.
After the gift, Tse became the latest comer to the billionaires club in Asia, although he will not be listed in his name individually but in the name of the Ziping family.
Tse was known for his extravagant life and posted photos and videos on Instagram showing him with stars and models such as Bella Hadid and Lily Aldridge.