World’s largest Ferrari and Rolex collector - David Lee
Sep 14, 2023
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David Lee, CEO and Chairman of Hing Wa Lee Jewelers, shares his fascinating family history and immigration journey. He discusses overcoming cultural challenges, unique expressions of love in Chinese families, and his principles to success. The impact of social media on branding and their plans for launching branded watches are also explored. Additionally, the podcast delves into managing wealth and finding joy in giving back.
Understanding cultural and racial challenges can help solve business problems.
Success requires a combination of hard work, perseverance, integrity, timing, and opportunity.
Deep dives
David Lee's Story of Success and Overcoming Challenges
David Lee, the CEO and chairman of Hing Wai Lee Jewelers, shares his incredible story of success and overcoming challenges. His father escaped the Communist Revolution in China, swimming across shark-infested waters to eventually establish a jewelry business in the US. David emphasizes the importance of cultural and racial challenges in solving business problems and shares his five-star principles for success. He highlights the significance of hard work, perseverance, and integrity as crucial business ethics. Additionally, David talks about finding joy and fulfillment in helping others and making a positive impact on people's lives.
The Chinese-American Experience and Cultural Integration
David Lee reflects on his experience as a Chinese-American immigrant and the challenges he faced during his journey. He discusses the cultural shock and language barrier he encountered upon arriving in the US. Despite experiencing discrimination and prejudice, David quickly adapted and assimilated into American culture while preserving his Chinese heritage. He recognizes that understanding cultural differences is essential in running a successful business and navigating relationships in a diverse society.
Lessons from David Lee's Father and the Philosophy of Success
David Lee's father was a significant influence on his life and business philosophy. Unlike expressing love through verbal affection, his father taught him love through actions and providing for the family's future. David shares his father's principles for success: working hard, with perseverance and integrity, and recognizing that timing and opportunity are important factors outside of one's control. He emphasizes that achieving success requires a combination of these five elements, with dedication and patience often spanning years or even decades.
The Value of Wealth and Balancing Work and Family Life
David Lee offers insights into his perspective on wealth and its purpose. While material possessions can bring temporary enjoyment, David believes that true joy comes from helping others and making a positive difference in their lives. He encourages aspiring entrepreneurs to find a balance between work and family life, highlighting the importance of spending quality time with loved ones. Reflecting on his own regrets of working excessively, David advises younger professionals to prioritize family and ensure they create meaningful memories alongside their pursuit of financial success.
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In today’s episode, we talk to David Lee, the CEO and Chairman of Hing Wa Lee Jewelers, and he’s also known for having one of the biggest Ferrari collections in the world.
David was born in Hong Kong and moved to the US in the 70’s. His family's history and immigration story is like something out of the movies, with his father escaping the communist revolution in China, crossing shark infested waters to founding a 60 year old family company.
David pivoted the family business from wholesale to retail, introducing iconic brands like Rolex. Then his incredible passion for collecting led him to explore the world of alternative investments with high-expense items like Ferraris.