Connect with us

Entrepreneur Stories

Wharton Graduate Eric Tse Becomes Billionaire At 24

Avatar

Published

on

Richest Self Made Women Entrepreneurs,Startup Stories,Self Made Women Entrepreneurs,Richest Women Entrepreneurs,Richest Self Made Women,Women Entrepreneurs 2019,Zhou Qunfei,Denise Coates,Diane Hendricks,Giuliana Benetton,Doris Fisher,Top 5 Richest Self Made Women Entrepreneurs


Eric Tse, a Wharton graduate, was gifted $ 3.8 billion by his parents in the form of 2.7 billion shares of his parents’ company, Sino Biopharmaceutical Limited.

It was also reported along with the gift, Eric Tse was also promoted to the position of executive director at Sino Biopharmaceutical, after working at the Company for 1 year.  As the executive director, Eric Tse will have a salary of $ 498,000 annually plus bonuses.

Now, Forbes lists Eric Tse as the 546th richest person in the world.  Moreover, Bloomberg also reported the shares transferred to Eric Tse are equivalent to 21.45 % of the Company’s share capital. 

Tse Ping, Eric’s father, founded the billion dollar company Sino Biopharmaceutical in 2000 and serves as the CEO of the Company.  Cheung Ling Cheng, Eric Tse’s mother, also serves as the Vice Chairperson of Sino Biopharmaceutical. Theresa, Eric’s older sister, who is currently the Company’s Chairperson, owns 11 % of the Company. 

According to a statement released by Sino Biopharmaceutical, the shares were transferred to Eric Tse in an effort to refine the management of the Company and the inheritance of the family wealth.  The statement also added the board of directors believe the transfer of shares will not have any material impact on the business operations of the Company.

Eric Tse, who majored in Finance at the Wharton School of the University of Pennsylvania, was also the co founder of the Penn Wharton China Summit.  The non profit organisation grew to become America’s largest student organized summit in China.

Despite the sudden increase in wealth, Tse expressed his wish of not wanting to participate in wealth ranking

Loading...
Loading...
Continue Reading
Advertisement
1 Comment

1 Comment

  1. Avatar

    Great Monday

    October 31, 2019 at 6:58 pm

    Waoh it’s important to take note of the investment of the company as they invest so much on Research and Development.

Leave a Reply

Your email address will not be published. Required fields are marked *

Entrepreneur Stories

Huawei Unknown Facts

Avatar

Published

on

Huawei Amazing Facts, Huawei Facts, Huawei Facts 2019, Huawei History and Facts, Huawei Lesser Known Facts, Huawei Success Story, Huawei Unknown Facts, Inspiring Facts about Huawei, Interesting Facts 2019, Most Interesting Facts, startup stories, Surprising Facts About Huawei

Huawei is the world’s largest manufacturer of telecommunication equipment.  The Company was founded in 1987 by the 42 year old Ren Zhengfei.  Considered one of the world’s largest technology brands, Huawei was valued at $ 105.1 billion in 2018.  Here are a few unknown facts about this tech company.

Unknown facts about Huawei

1) Founder Ren Zhengfei came up with the name Huawei after coming across the phrase ‘Zhonghua youwei,’ which meant ‘China has promise.’ 

2) The name Huawei can be quite difficult for non Chinese people to pronounce.  Huawei is pronounced as ‘Waa wai,’ but Huawei’s pronunciation varies by countries.  This led the Company to launch a name recognition campaign, where they used “Wow way” to encourage a pronunciation closer to the actual one.

3) Huawei puts more focus on Research and Development (R and D,) with more than 40 % of the Company’s employees working in the R and D department. 

4) Huawei’s Ox Horn Campus is famous for its European style architecture.  Based in Guangdong, the R and D campus consists of 12 small ‘towns,’ modeled after famous European cities like Paris, Granada and Bruges.  The research buildings of every ‘town’ are a replica of popular castles, palaces and many more.

5) Huawei’s 5G tech played a big part in the world’s first remote brain surgery.  Dr. Ling Zhipei performed the brain surgery on a patient suffering from Parkinson’s disease.  The surgeon operated on the patient, who was 3,000 km away from him, by manipulating surgical instruments with the help of a computer and 5G network.  After the success, Dr. Zhipei credited Huawei’s 5G technology for ensuring a nearly real time operation.

6) In the tech industry, Apple is considered a direct rival of Huawei.  However, this rivalry did not stop Huawei founder and CEO Ren Zhengfei from using Apple products.  Zhengfei considers Apple’s iPhone the best phone in the world and revealed his family prefers Apple’s products over Huawei’s.

 

Did you find any of these unknown facts interesting?  Comment below and let us know.

Continue Reading

Entrepreneur Stories

Peter Thiel Unknown Facts

Avatar

Published

on

Peter Thiel Amazing Facts, Peter Thiel Facts, Peter Thiel Facts 2019, Peter Thiel History and Facts, Peter Thiel Lesser Known Facts, Peter Thiel Success Story, Peter Thiel Unknown Facts, Inspiring Facts about Peter Thiel, Interesting Facts 2019, Most Interesting Facts, startup stories, Surprising Facts About Peter Thiel

Peter Thiel is the co founder of PayPal and a well known venture capitalist.  Thiel is considered an independent thinker and one of the smartest entrepreneurs in  Silicon Valley by many. From investing in Facebook during its early days, to co founding a CIA backed project named Palantir Technologies, Thiel has done a lot of work which may surprise the world.  Here are some unknown facts about Peter Thiel.

Unknown facts about Peter Thiel

1) Despite having a Bachelor’s degree in Philosophy and a law degree from Stanford University, Peter Thiel doesn’t believe in a university education and often encourages youngsters to drop out of college.  His foundation often gives funds of $ 100,000 to young entrepreneurs who are willing to drop out of school and work on their business ideas.

2) As an investor, Thiel likes to invest in eccentric projects and once invested a considerable amount in a project which worked on 3D printed meat.

3) Peter Thiel is the only entrepreneur in Silicon Valley who supported Donald Trump in the 2016 Presidential Elections.

4) Peter Thiel was also an avid chess player and was given the designation of a master chess player by the United States Chess Federation. 

5) Apart from various eccentric projects, Thiel also supports and invested in anti aging research.  Thiel is funding various research projects which work toward increasing human healthspan, reversing age related decline and tackling neurodegenerative diseases through his non profit, Breakout Labs. 

6) Peter Thiel, along with Elon Musk and Max Levchin, was the executive producer of a satirical black comedy film, Thank You For Smoking (2005.) 

7) Peter Thiel believes human activities do not affect the climate.  Thiel calls himself a climate skeptic and considers the idea of human activity altering climate to be pseudoscience than actual science.

Which of these facts about Peter Thiel did you find interesting?  Comment below and let us know.

Continue Reading

Entrepreneur Stories

Ex Facebook Employee Reveals How He Made $ 1 Million In A Year

Avatar

Published

on

Ex Facebook Employee,How He Made $1 Million In A Year,Startup Stories,Patrick Shyu software engineer at Facebook,Ex Facebook Employee Patrick Shyu,Ex Facebook Employee Reveals Insider Secrets

Patrick Shyu, a YouTuber who previously worked as a tech lead at Google and software engineer at Facebook, uploaded a video discussing his income after leaving the giant companies.

Shyu, whose channel TechLead has more than 500,000 subscribers, said in the video while others prance around in their business suits, driving Jaguars and acting self important, he made a million just by sitting in his toolshed, sipping coffee.

Shyu was able to generate such a huge amount from two primary sources—YouTube, which Shyu considers his main job and Facebook, which is his “side hustle gig.”  By making YouTube videos, Shyu made over $ 240,000 from ad revenues over a period of 12 months and another $ 260,000 from affiliate sponsorships. While at Facebook, Shyu made a total of $ 500,000 from base pay, bonus and equity, before getting fired.  After adding both the incomes, the total comes to a million dollars a year, Shyu explained in the video.

Even though making a million may sound easy, Patrick Shyu discussed how difficult it is in reality.  Shyu had to work 80 hours a week continuously. This included working from 8 A.M., to midnight every day, including Sundays.  While Shyu urged people not to follow his footsteps, he did acknowledge how beneficial it is to have a second job to boost one’s income.

Patrick Shyu admitted he was able to make more money as a YouTuber than he did working at Google and Facebook.  However, there is a downside to earning such a large amount as one does not have enough time to enjoy the money they are earning.  In Patrick Shyu’s words, he had to sacrifice gaming, movies and spending time with family in order to earn the million dollars. 

 

Earlier, Patrick came into the limelight when he uploaded a video titled Day in the Life of a Facebook Software Engineer.  In the video, Shyu explained the reason behind him getting fired from Facebook was his YouTube channel.  He further explained the Human Resources at Facebook did not like his YouTube channel, resulting in him being fired.  In the same video, Shyu also ridiculed the work culture at the Company.

 

Even with the disadvantage, Shyu put more emphasis on how important establishing a business is.  He concluded the video with the statement that there is always a fear of being replaced when working under someone.  However, working on your own business gives you the freedom of generating as much revenue as you want on your own conditions.

Continue Reading
Advertisement Yevadu

Recent Posts

Advertisement Rasugurram