The term old money and new money is used to convey the level of flamboyance seeping throw the personality pores of a wealthy individual.
Hon Steve Mbogo affirmed that he morphed to millionaire status when he was 18 years, therefore, he doesn’t like when the term ‘new money’ is associated with him.
“I don’t like the term ‘new money’ being used in reference to myself.” He says that “Steve Mbogo and money have been best friends for more than a decade.
I made my first million at 18 years, selling scrap metal. By 22, I had bought my own house and was driving the first AMG Mercedes Benz S class in Kenya.” stated Mbogo.
The extravagant Mbogo surprised the nation when he claimed to have spent a whopping Ksh 40 million in one weekend just to treat himself to the gleaming and rewarding view of the world of formula one.
While unwinding in a lavish lounge- one that is dripping with youthful charm- billionaire Mbogo treated himself to his beloved shisha and continued to say, “I just live life to the fullest. What is wrong with working hard, and having the best things in life?”
His wealth has been under scrutiny in the recent past. The scrutiny has been further stirred with reports that he embraced ill-methods to acquire his millions.
In a past interview, the business mogul claimed that he owns an aviation company ornamented with 16 planes. He also stated that his interests are in real estate and mining where he holds two mining concessions in Kenya.
He denied claims that he pays ksh 350,000 in rent. The businessman divulged that his mansion is nestled on a five acres piece of land in Karen.
Zen gold, a large scale gold selling and buying platform, chars his reputation as a gold scammer who uses the cozy authority’s protection to con foreigners.
Hon Steve Mbogo has severally said that his net worth is tethered north of Ksh 1 billion.