Traditional Chinese literati usually avoided discussing money, regarding it as vulgar and tainted with the "stink of copper." As a result, many talented scholars and writers neither engaged in productive labor nor understood the principles of business and finance. However, there were exceptions—individuals who were not only intellectually brilliant and creatively gifted but also possessed exceptional economic acumen and financial wisdom. Kang Youwei stands out as a prime example. He had a keen eye for real estate investment, and with just a few ventures, he earned substantial profits. His precision in identifying opportunities and decisiveness in action would have made even today's seasoned real estate speculators feel inferior.
Kang Youwei spent many years in exile overseas, during which he received generous financial support from patriotic overseas Chinese. This support was crucial to his ability to travel the world. Yet, he also used his intelligence and business sense to earn considerable wealth, particularly through real estate investments.
For instance, during the Spring Festival in 1906, he visited Mexico and was warmly received. At the time, Mexico City was raising funds to build a tram system. Kang immediately recognized that areas along the tram routes would soon become bustling commercial hubs, causing land prices to skyrocket. Seizing this rare opportunity, he purchased large amounts of property along the planned tram lines. Before long, land values surged several times over, and he effortlessly earned more than 100,000 silver dollars in profit.
Liang Qichao was also skilled at generating income. As early as 1898, under the banner of the "Preserve the Emperor Society," he raised capital from overseas Chinese through share subscriptions, using the funds to establish the Guangzhi Bookstore and the Xinmin Congbao Press in Shanghai. Leveraging his intellectual resources, he held one-third of the shares and earned over 10,000 silver dollars annually. At the time, Kang Youwei was living in exile in Jidaling, India, fleeing persecution by the Qing government and facing financial hardship. Upon learning of Kang's plight, Liang promptly sent him 1,800 silver dollars to provide support.
As the saying goes, "Times change." When Kang Youwei was reaping substantial profits from real estate investments in Mexico, Liang Qichao's Guangzhi Bookstore was suffering financial losses. Upon hearing this, Kang immediately wrote to Liang, asking how much money he needed. Liang replied, "3,000 silver dollars per year." Kang promptly sent 5,000 silver dollars—3,000 for Liang himself, 1,000 for Liang's family in Macau, and 1,000 for his brother's tuition. This generous gesture rivaled the spending of today's real estate tycoons. While the political alliance between Kang and Liang ("Kang-Liang") was already celebrated, their mutual financial support became another legendary tale.
In his later years, Kang Youwei enjoyed considerable wealth. In 1913, at the age of 55, he ended his exile and returned to China. The Guangdong government returned the Kang family property that had been confiscated by the Qing government and even provided additional state-owned assets as compensation for his 15 years in exile. Understanding the importance of capital accumulation and growth, Kang continued to use real estate speculation as his primary method for increasing wealth. In June 1914, he settled in Shanghai, renting Xinjia Garden at No. 16 Xinzha Road for 120 silver dollars per month, where he lived for eight years. During this time, he recognized the enormous appreciation potential of Shanghai's real estate market and promptly sold his properties in Guangdong to purchase land in Shanghai. Before long, Shanghai land prices soared, and Kang once again made a fortune. He then invested in properties near major transportation routes, which also yielded substantial returns.
In 1921, Kang purchased 10 mu (about 1.65 acres) of land on Yuyuan Road, where he built a luxurious garden residence blending Chinese and Western architectural styles, naming it "Youcun Lu." In his later years, he also constructed or purchased three villas elsewhere: "Yitian Yuan" by West Lake in Hangzhou, "Ying Yuan" in Yangshupu, Shanghai, and "Tianyou Yuan" in Qingdao. "Yitian Yuan" spanned over 30 mu and took four years to complete. "Ying Yuan" was sold to someone else after completion, representing a short-term investment. "Tianyou Yuan" in Qingdao was originally the governor's mansion; Kang purchased it and expanded it. It was here that his life ultimately came to an end.