French magazine Le Nouvel Observator said 24-year-old Eric Tse earned nearly $ 4 billion in Hong Kong in wealth, noting that the rich got richer in 2019.

The magazine pointed out that a couple of the richest Chinese families decided to transfer part of the shares of their pharmaceutical company to their son Eric Tse, taking advantage of the lack of an inheritance tax in Hong Kong.

According to the Bloomberg Report, the value of the pharmaceutical company specializing in research and development of eye disease and hepatitis treatments is estimated at $ 8.5 billion, which means that Eric's gift is worth $ 3.8 billion, which makes this young man overnight one of the richest men in the world.

The magazine stated that this type of practice is widespread in Hong Kong, where donations and inheritance are exempt from all taxes.

This young man is definitely not one of tens of thousands of rebels demonstrating in the streets of Hong Kong against the Chinese mongoose - as the magazine says - as he was immediately appointed CEO of the pharmaceutical company, and he joined its board of directors with an annual salary of $ 498,000, walking on Elite Road in Hong Hong.

The boy, who was born in Seattle, USA, and studied elementary in Beijing, China, and high school in Hong Kong, then graduate studies in finance at the Wharton University in Pennsylvania, launched a major annual China-US summit, the Chinese Wharton Summit.

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Eric Tse was appointed CEO of the pharmaceutical company, and he joined its board of directors with an annual salary of $ 498,000, walking on Elite Road in Hong Kong.
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The elite is getting richer
As the representative of his generation, the new little billionaire has a big activity on the Instagram platform, where he sends his wishes on Father’s Day and Mother’s Day, and publishes many pictures of cats and delicious food, as he also appeared celebrating the seventieth anniversary of the People's Republic of China, and in personal photos with singer Rihanna and model Bella Hadid And Princess Charlene from Monaco.

The magazine pointed out that Eric Tse is just one of the excessive elite of globalized capitalism who broke a new record for wealth in 2019, as billionaires - according to the Bloomberg Index - increased their wealth, to the point that the wealth of the 500 richest people on this planet of $ 1200 billion , Its assets increased 25% to a total of $ 5900 billion.

Despite losing $ 9 billion upon his divorce, the richest man in the world is still the e-commerce mogul, CEO and founder of Amazon Jeff Bezos with $ 116 billion, according to Bloomberg, followed by Bill Gates with $ 113 billion, then Bernard Arnaud with $ 106 billion, Warren Buffett with $ 81.5 billion.