Steven Guo, a 24-year-old entrepreneur, traded the hustle of Southern California for the tranquility of Bali — and he’s never been happier. Working just 30 hours a week, Guo earns $254,000 (Rs 2.15 crore) a year, balancing his growing e-commerce empire with a lifestyle many only dream of.
“Bali really is a place where my work-life balance finally makes sense,” Guo said to CNBC Make It for their Millennial Money series.
His mornings are spent running his business, and his afternoons are reserved for surfing, exploring Indonesia's lush landscapes, or enjoying its vibrant culture.
Guo’s entrepreneurial journey began when he was just 12. A summer project hosting a Minecraft server for friends turned into an unexpected moneymaker when other players started joining and paying for perks. “I didn’t realise you could make money off the internet,” he recalls. By the end of that summer, Guo had earned $10,000.
Though his first attempt at launching a game development company failed, Guo walked away with a valuable lesson: “Marketing is extremely important for any business.”
Guo’s early ventures laid the foundation for a string of successful e-commerce businesses, including an online retailer for dates, a K-pop-inspired merchandise store, and a premium car cover brand. In 2022, he sold his first company, a jewellery brand, after it brought in over $2 million in revenue within a year. All of his businesses ladder up to his main venture, Manifest Five, a studio helping direct-to-consumer brands grow across industries like health, beauty, and automotive.
While studying business economics at the University of California, Irvine, he maintained a 2.7 GPA, prioritising his entrepreneurial endeavours over traditional academics. “I knew a high-paying job wasn’t likely, so I focused on building my businesses,” he says.
After travelling to 15 countries and weighing his options, Guo chose Bali for its affordability, natural beauty, and sense of community. He now splits a four-bedroom villa with two friends and fellow entrepreneurs. “I get to spend tons of time with my friends and doing activities I love, like surfing,” he says. Dining out at local warungs or fine restaurants is another perk, costing him just $500 a month.
Bali also allows Guo to keep costs low while running a global business. He manages a 19-person team across the US, UK, India, and the Philippines. “One of the greatest perks of online businesses is being able to hire the best talent from anywhere in the world,” he says.
Guo is mindful of his spending, prioritising investments over indulgences. He saves $60,000 annually, mostly in index funds, and contributes to a Roth IRA. “I refuse to spend money on things that depreciate in value,” he says, adding that most of his discretionary expenses go toward gifts for loved ones.
Looking ahead, Guo has ambitious plans to expand his portfolio to $50 million by the time he’s 30. “My goal is to incubate and mentor new businesses while continuing to invest in high-growth opportunities,” he says.
For now, though, Guo is enjoying the best of both worlds — financial success and a life filled with surfing, sunsets, and satisfaction. “I’m definitely much happier in Bali,” he says, “because everything about the lifestyle here just makes sense.”
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