“My business rule number one: Never Trust Your Dad’s Instinct, always ask his idea and do the opposite. —KEITH”
Keith started doing business and investment since he was about seven or eight. First he asked his father to open an online stock-exchange account, then he started doing online business (he was defrauded $50,000 on his first night), then he moved on to Alibaba. Later, with a bit of savings, he started investing friends and relatives’s business with a huge return.
After 2008, when the whole world was recovering from the Second Great Depression, which did not effect the PRC that much, China’s property industry started skyrocketing again. Hainan, an island province in the southern China, started boiling its property industry due to several new state policies.
A friend of KEITH’s father, who was in charge of a large development project asked him onboard. KEITH’s father convinced KEITH to invest the majority of his from his flat wallet. Year by year, the price of the property in Hainan province almost doubled, the amount KEITH had invested became almost $2 M, and the money KEITH’s father had invested became almost $20 M.
In 2013, the friend of KEITH’s father suicided, jumped from the top of a building, due to his high pressure from debts. Thus, the development project stranded. KEITH’s father did not spend much time on tracing the money since he has to do something more important than that $20 M. However, $2 M was still a big number for Littlekeithy.