#SHOWBIZ: HK actor Alex Fong reveals massive NFT losses, luxury watch spending

HONG KONG - Actor Alex Fong Lik Sun has disclosed his financial hardships during the pandemic, revealing that he suffered significant financial losses due to investing in non-fungible tokens (NFTs) years ago. The 46-year-old did not inform his family about the extent of his losses, causing his wife to repeatedly inquire about the amount.

Fong admitted that his financial troubles worsened after purchasing a property just before the pandemic hit. He expressed fear upon seeing the remaining balance in his bank account and eventually managed to recover a portion of his funds. The veteran singer-actor also admitted to indulging in luxury watch purchases, spending between HK$100,000 (approximately RM52,010) and HK$200,000 (around RM104,020) on individual timepieces when work was scarce.

However, he discontinued excessive spending after reading an online article highlighting how affluent individuals invest in expensive items as a facade to project success and conceal their insecurities. Fong now emphasizes the importance of saving money and building a more stable financial foundation, especially with a family to support.

He cautioned others against making similar investment mistakes, stating that he initially sought a quick path to wealth, which ultimately led to his financial losses.