Original title: overnight, the 24-year-old Chinese became a billionaire
Xie Bing, the billionaire founder of China's biopharmaceutical, and his wife Zheng Xiangling are transferring about one-fifth of the company's shares -- about $3.8 billion (about 26.847 billion yuan) -- as gifts to their sons.
Xie Chengrun, son of Xie Bing, the billionaire founder of China's biopharmaceutical industry (right)
The transfer of 2.7 billion shares published in the announcement of the Hong Kong Stock Exchange on the evening of October 22 made Xie Chengrun, only 24, one of the top richest people in Asia overnight. But Xie Chengrun said he would try to keep a low profile.
Xie Chengrun said that for the 'billionaire list' or wealth ranking organized by the media or other institutions, he will try to avoid participating in the name of the Xie Bing family in his personal name.
After the transfer, Xie Bing's son will own about one-fifth of the company's shares
In addition to his parents, the family also includes his sister Xie qirun. According to Bloomberg's calculation, the total value of China's biopharmaceutical shares held by the four people is about 8.5 billion US dollars (about 60.052 billion yuan).
China biopharmaceutical did not respond to requests for comment. Xie Chengrun did not immediately reply to the message.
This is the latest example of the massive transfer of Asian wealth to the next generation. In 2018, four Chinese tycoons transferred more than US $17 billion (about 120.103 billion yuan) to the family trust, and many top developers in Hong Kong are also implementing succession plans.
The protests come at a time when Hong Kong's richest families are likely to suffer the most
According to an article on the website of Wharton School of business at the University of Pennsylvania, after obtaining a degree in finance from the school, Xie Chengrun became a su Shimin scholar at Tsinghua University.