'Insta-billionaire': A 24-year-old pharma heir who parties with celebrities became richer than Donald Trump overnight

Donald TrumpPresident Donald Trump speaks during a meeting with Italian President Sergio Mattarella in the Oval Office of the White House, Tuesday, Oct. 15, 2019, in WashingtonEvan Vucci/AP

  • A 24-year-old who parties with celebrities became richer than Donald Trump overnight after his parents gifted him a stake in their pharmaceuticals company worth about $3.8 billion, according to Bloomberg.
  • Eric Tse became an "insta-billionaire" after Sino Biopharmaceutical's billionaire founder and his wife gave him a fifth of the business, Bloomberg reported.
  • Eric's Instagram shows him posing with celebrities including Rihanna, Bella Hadid, Yao Ming, Lily Aldridge, Princess Charlene of Monaco, and Carla Bruni Sarkozy.
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A 24-year-old who parties with celebrities became richer than Donald Trump overnight after his parents gifted him a stake in their pharmaceuticals company worth about $3.8 billion, according to Bloomberg.

Eric Tse became an "insta-billionaire" after Sino Biopharmaceutical's billionaire founder Tse Ping and his wife, Cheng Cheung Ling, gave him a fifth of the business, Bloomberg reported. Sino also made Eric an executive director and added him to its executive board committee, complete with an annual salary of HK$3.9 million ($498,000) before bonuses, Bloomberg said.

Eric's Instagram shows him posing with music superstar Rihanna, supermodel Bella Hadid, and 7-foot-6 Chinese basketball legend Yao Ming. He's also snapped photos with Victoria's Secret model Lily Aldridge, Princess Charlene of Monaco, and Carla Bruni Sarkozy, the former First Lady of France.

Tse_BellaHadidInstagram/Eric Tse

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Eric's newfound wealth has catapulted him into the richest 550 people in the world, according to Forbes' latest list of billionaires. He's not only passed Trump ($3.1 billion) but also Starbucks' founder Howard Schultz ($3.5 billion), and he's worth far more than Snapchat's co-founder and CEO Evan Spiegel ($2.1 billion).

The overnight billionaire was born in Seattle, schooled in Beijing then Hong Kong, and graduated from the University of Pennsylvania's Wharton School with a degree in finance last year, according to an article on Wharton's website. He went on to pursue a master's degree in global affairs at Beijing's Tsinghua University as a Schwarzman Scholar, the article says.

Read more: Crypto whiz kid Justin Sun's $4.6 million lunch with Warren Buffett has sparked China conspiracies, public apologies, and an invite for Donald Trump. Here's a timeline of what's happened.

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