This archive report was first published on 25 October 2019.
On Tuesday, Eric Tse, a 24-year-old from Hong Kong, made headlines after being gifted $3.88 billion (approximately Ksh.401 billion) in company shares, catapulting him to the exclusive club of dollar billionaires.
According to CNN, Tse's father, Tse Ping, and mother, Cheng Cheung Ling, who are still executive directors of Sino Bio-pharmaceutical limited, a billion-dollar pharmaceutical group they founded, gifted him the shares.
Tse will now own a stake in the company and has been appointed as an executive director and a member of the Executive Board Committee of the Company, a position he occupied on Tuesday.
However, Tse has chosen to keep his new status under wraps, refusing to be listed in rankings, as stated by the company in a statement referring to Hong Kong laws.
”There is no further information to be disclosed pursuant to the requirements of Rule 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited,” the statement said.
Despite his desire for secrecy regarding his finances, Tse's Instagram page offers a glimpse into his lavish lifestyle, which includes traveling the world and socializing with the rich and famous.
Before his latest appointment, Tse had served as the Chief Executive Officer (CEO) of Liepin, a North American human resources organization, where he achieved great success.
