Dan Lok -“The Asian Dragon”- has been a fan-favorite for many years and is a successful entrepreneur and businessman. He’s worth millions, which only begs the question: how did he make his money?
Through making investments into real estate on properties in both Hong Kong and Canada using the profits generated from his online business Dan Lok made his millions. He became a millionaire at the age of 27, and just three years later after turning 30, he became a multimillionaire.
You can read more below about how Dan Lok built his global empire, from dropping out of college and having 13 unsuccessful business ventures to becoming a self-made millionaire by the time he was 27.
From Hong Kong to Canada
Dan Lok was born on November 28, 1981, in Hong Kong, China. He and his family lived in China until Lok was 14, at which point he and his mom emigrated over 6.5 thousand miles away to Canada, leaving behind Lok’s father.
Initially, Lok struggled with the language and cultural differences between his motherland and America, so it took him a little while to fully pick up the language and adjust to a new way of living.
Shortly after Lok and his mom moved over to Canada, his father went bankrupt back in Hong Kong but he and his mom chose to stay in Canada even though they faced much financial hardship and had to live in a small, 1-bed apartment after losing the financial support of his father.
Around the same time, he enrolled at Douglas College but dropped out in order to pursue his business career.
Failed Business Ventures
When Lok started focusing more on his business career, he was instantly met with failure for three years straight. Initially, he launched a whopping 13 businesses across a three year period, none of which were successful – this put a real downer on Lok’s dreams of success and put him in a whole heap of debt ($150,000 to be precise) but he didn’t give up at the first (or thirteenth?) hurdle.
Lok mentioned that it was his mother’s disappointment that encouraged him to keep pursuing his dreams of success. “I will never forget the look of hopelessness on my mom’s face and the tears in her eyes. At that moment, I decided that I would be successful…I never wanted to see that look again.”
Transforming His Life: From Maxed Out Credit Cards to Success
Despite maxing out his credit cards, Lok really believed that he could do it and thought he’d never be able to support his family and his mom financially if he was on minimum wage. That’s why Lok chose to become an entrepreneur no matter how long it took.
After 13 failed business ventures in his early 20s, Lok strived for greatness and when he was 27 he became a self-made millionaire. That must’ve been music to his ears.
To become a millionaire, Lok started out as a copywriter for an advertising agency where he would make a staggering $10,000 each month. After that, he transitioned into marketing consultation and later went on to become an internal marketer.
All in all, with hard work, limitless determination, and a little help from mentors, Lok strived to achieve and he did. Despite 13 failed businesses, it was his 14th that helped him succeed.
“The biggest determining factor that allowed me to transform my life from being in debt to achieving success was when I found my first mentor. That was the million dollar year of my life.” – From an interview by Project Life Mystery with Dan Lok.