(Photo Credit: Thomas B. Shea-USA TODAY Sports)

The heir to the Sino Biopharmaceutical fortune

American heiresses like Paris Hilton have nothing on China’s 24-year-old Eric Tse, who just inherited billions of dollars from his parents, who are the founders of Sino Biopharmaceutical. Eric’s parents, Tse Ping and Cheung Ling Cheng, gave about a fifth of their fortune to their son, around $4 billion dollars. Overnight, Eric Tse became one of the richest people in Asia.

Tse is already known for hanging out with NBA star Yao Ming, who was also born in China. He also pals around with celebrities like Rihanna and Gigi Hadid. His Instagram features pictures of his lavish lifestyle, which recently involved vacationing in the Swiss Alps and parasailing in Thailand.

However, Eric is staying somewhat humble about his billionaire status, saying he’ll refuse to participate in “World’s Top Billionaire” lists, giving credit only to the people who built the pharmaceutical fortune–his parents.

“Mr. 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,” a press release from Sino said.