Where's our money? This 24-year-old just became an overnight billionaire thanks to his generous parents

This 24 years old parties with Rihanna and Bella Hadid and watches football games with Yao Ming. Eric Tse is the overnight billionaire the internet is talking about.

Eric Tse, is a graduate from the University of Pennsylvania's prestigious Wharton School of Finance. He was recently gifted about $3.88 billion in his family company's shares on Tuesday.

Sino Biopharmaceutical Limited is owned by Tse's parents. Both executive directors of the company, on Tuesday decided to give him a fifth of the company's total issued shares "as a gift at nil consideration.’’

This 24 years old billionaire is the newest member of Asia’s booming billionaire club however he wants no part in the wealth rankings.

"He will endeavour 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, “read the company’s statement

The statement emphasized that Tse wants to be lowkey but his Instagram says different. This young billionaire has been hanging out with the rich and famous. He shared a picture with Bella Hadid on his gram back in 2017. Tse was there to attend the Bulgari party in Venice.

Tse also posted a picture with the singer and Fenty Beauty owner Rihanna. The picture was taken in New York. Tse captioned it, "Party with my idol."

From snowboarding in Japan, parasailing in Thailand to swimming with dolphins in the Bahamas, Tse’s Instagram documents his lavish lifestyle.

Tse has also posed alongside some prominent Chinese athletes. Apart from basketball icon, Yao Ming, he has also shared a photo with Olympic gold-medalist swimmer Sun Yang.

Tse, like his family has some close ties with Chinese politicians. Not only that, he has also met political leaders and members of royalty like former French first lady Carla Bruni and Princess Charlene of Monaco.

Tse has also attended Beijing celebrations of 70th anniversary of the founding of the People's Republic of China, which was open only to invited guests and dignitaries.

Tse is part of a new wave of wealth in China.

China's young rich started a challenge last year called, ‘flaunt your wealth’. The challenge involved showing off their luxurious belongings.

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