The late property tycoon Lee Shau Kee, Hong Kong’s second-richest man, left a substantial legacy and valuable lessons for future entrepreneurs. His tremendous success came from his resilience and ability to make calculated decisions. He viewed the stock market as a school where investors should focus on learning and improving themselves as much as making profits—lessons he was always willing to teach others.

“Small businesses rely on diligence, while large businesses depend on precise calculations.”

Lee started his financial journey in Hong Kong with HK$1,000 ($128 US) in his twenties, and when he passed away last week at 97, his estimated net worth was US$30 billion, according to Forbes. Lee ventured to Hong Kong after realizing the limitations of his hometown market. Noticing a wave of migration and rising housing demand in the city, he saw a golden opportunity in real estate. He invested all his capital into the sector, founding Eternal Enterprise in 1958. He noticed a premium opportunity in the local real estate and invested all his capital into the industry, founding Eternal Enterprise.

His death was a tremendous loss to Asia’s business community. However, according to Tatler Asia, he willingly shared principles for success in life and business that will continue to guide young entrepreneurs.

“Opportunities in a crisis are reserved for those who have guts.”

Lee founded Sun Hung Kai Properties with Fung Hey and Kwok Tak Seng, leading the firm to success. His success proved that diligence alone is insufficient in a highly competitive market. Entrepreneurs must analyze the market, anticipate trends, and make precise decisions at the right time.

In the 1960s and 1970s, Hong Kong’s property prices plunged to just 10% of their previous value, the stock market nearly collapsed, and the global oil crisis further strained the market.

In this turmoil, Lee saw a rare opportunity. He invested heavily in buying low-cost land and founded Henderson Land Development. Within a few years, the company scaled to over 100 properties, including the landmark International Finance Centre, and Lee became the world’s fourth-wealthiest person by 1996. He reflected on this experience:

“If you choose to farm, just keep working hard at farming.”

Lee’s guiding principle was his perseverance in the ever-evolving real estate market, which helped him navigate challenges and build powerful business empires. He kept his composure and waited for prime opportunities to make well-calculated decisions. He also understood that success comes not from fleeting strokes of luck but from accumulated knowledge and experience over time.

“The best way to spend money is on charity.”

The real estate magnate saw his business success as only one aspect of his life and believed that true fulfillment came from giving back to society. In 2019, he told Bloomberg News, “It is equally important to know how to spend it well. And the best way to spend money is on charity.”

Lee shared his vast wealth to support those in need and to fund schools and hospitals. His philanthropic efforts primarily focused on education and providing opportunities to underprivileged students.