Marvel's Iron Fist Synopsis
Daniel Rand is the son of Wendell Rand, who had, as a youth, visited the mystic city of K'un-Lun, which materialized in the Himalayas once a decade; founded roughly a million years ago by extraterrestrials, K'un-Lun was co-ruled by the aliens' descendants and powerful beings called the Dragon Kings, who were themselves subject to the godlike sorcerer Master Khan. Rand had saved the life of K'un-Lun's ruler Lord Tuan, who adopted Rand as his heir, to the resentment of Tuan's son, Yu-Ti.
During his time in K'un-Lun, Rand married a woman named Shakari and fathered a daughter, Miranda Rand-K'ai. At some point, Rand won ritual combat against Davos, son of K'un-Lun's greatest warrior, Lei Kung the Thunderer, which entitled him to claim the power of Shou-Lao the Undying, a man transformed into a mystic serpent over a thousand years ago by the Dragon King Chiantang; however, although great K'un-Lun warriors had periodically wielded Shou-Lao's power as the Iron Fist, Rand declined the power.
Ten years after coming to K'un-Lun, Rand was showing Shakari the restored nexus when Yu-Ti's men attacked them. Shakari was slain, and the grief-stricken Rand returned to Earth. Within a year, he became a successful businessman and married Heather Duncan. In his absence, Lord Tuan died and became ruler of Feng-Tu, abode of K'un-Lun's departed spirits, leaving Yu-Ti to rule K'un-Lun, while Lei Kung, shamed by Davos' defeat, banished his son to Earth.
When Daniel Rand was nine, at roughly the time K'un-Lun was scheduled to materialize, his father decided to bring him and Heather to K'un-Lun. Accompanied by Rand's business partner Harold Meachum, they traveled to the Himalayas, but Wendell fell from a mountain ledge; clutching the edge, he called to Meachum for help, but Meachum, hoping to control Rand's business shares, caused Wendell to plunge to his death. Shortly afterward, Heather sacrificed her life to protect Daniel from a wolf pack, and her spirit ascended to Feng-Tu. The denizens of K'un-Lun found Daniel and took him in, while a frostbite-crippled Meachum learned of Daniel's survival and spent the next decade preparing elaborate defenses against future attack.