Net worth: $3.8 billion as of October 2019
Eric Tse now owns 2.7 billion shares, or 21.45%, of Sino Biopharmaceutical, the company founded by his father, the company said in a statement October 23.
The company said Tse's parents told the board they transferred the shares to Tse to "refine the management and inheritance of family wealth" and planned for Tse to "hold the relevant shares in long-term." But Sino Biopharmaceutical said Tse's new status would "not have any material impact on the business operations of the Company."
Despite having famous friends, Tse has said he doesn't want to be recognized for his wealth.
Tse "indicated that in response to nomination for Billionaire List or wealth ranking organized by media or other organizations, he will endeavor not to participate in such rankings in his own name, and would recommend participating in such nominations in the name of the Tse Ping family," Sino Biopharmaceutical said.