Hong Kong singer-actor Alex Fong Lik Sun has opened up about the financial struggles he had faced during the pandemic.
In a recent interview on a web show, the 46-year-old revealed that he suffered huge financial losses after investing in non-fungible tokens (NFTs) several years ago.
“The amount was so substantial that I did not dare tell my family. My wife would ask me every day how much I lost and how many digits the amount is... I lost even more money than I did when I invested in stocks previously,” he said.
Fong said his financial difficulties came after he purchased a property just before the Covid-19 pandemic, when work became scarce and his finances took a hit.
“I looked at the money left in my bank account and felt frightened. Now, I have managed to recover a little,” he said.
Interestingly, Fong said he spent the most money on luxury watches when he had little work, splashing out HK$100,000 (RM52,010) to HK$200,000 (RM104,020) on timepieces he rarely wore.
However, the Sunshine Heartbeat (2004) star stopped doing so after coming across an online article about how people buy items to project success and avoid appearing unsuccessful.
Looking back, Fong said he was insecure then.
“I was afraid people would realise that my career wasn’t going well, so I spent the most money when I was at my lowest point. Once things started getting better, I had less desire to spend,” he said.
Having learnt from past mistakes, Fong now prioritises saving money and building a more stable financial foundation.
“With a family, a wife and a daughter to support, I have to be more cautious. When my career was not going well, even if I had HK$10 (RM5.20), I would still spend HK$8 (RM4.16) or HK$9 (RM4.70).
“If you ask me now, even if I have HK$10, I would only spend HK$6 (RM3.12) and put the rest elsewhere, without touching the money meant for my family,” he said.
Fong also cautioned others against following his past approach to stock market investments.
“I used to want to get rich with one big win, and that was exactly why I lost money,” he said.
