A successful person who lives a lowkey lifestyle. It can also be used to describe someone who is skillful or excellent. The word Shakola is just to rhyme with Bola.
A style of modified cars that was and still is popular in Japan, and is gaining traction in other countries. This is generally done on old Japanese rear-drive sedans like Toyota Crown, Cressida, and Mark II or Nissan Laurel, but it can be done with others. It usually involves a very low ride height, fender flares, and stretched tires. Other touches include custom interiors and a tsurikawa, usually a hoop or ring that is attached to the rear bumper and dragged along the ground to show off the ride height.
Guy 1: Did you see that shakotan Lexus LS400? That was sick!
Guy 2: Dude, that's not real. You gotta drive a Toyota Cressida or Nissan Laurel for real shakotan status.