Hong Kong's Eric Tse has become one of the world's richest men of the same age, after his parents gave him $ 3.8 billion, one-fifth of the capital of Chinese pharmaceutical company SinopayopharmaMotical.
The 24-year-old would receive his parents' tax-free gift, according to Hong Kong laws, and represent 2.7 billion shares of the company, Bloomberg said.
The gift is one of the most notable transfers of wealth to Asia's next generation of wealthy people.In 2018, four Chinese business leaders put more than $ 17 billion in family trusts, while many of Hong Kong's biggest developers plan to inherit their properties.
Born in Seattle, Eric Tse received his primary education in Beijing and high school in Hong Kong. He then graduated from the Wharton School of the University of Pennsylvania, where he studied finance.
Eric Tse founded a charity called the Summit Foundation to support educational and cultural initiatives.He was known for his work on Instagram, posting pictures of skating and hiking with American singer Rihanna, and with model Bella Bella Hadid, basketball star Yao Ming, and Princess Monaco Princess Charlene.