Featured Image Credit: Instagram/@mompha.junior
Topics: World News
Jess Hardiman
While many of us will still be saving up for our first home when we’re collecting our pensions, one youngster dubbed the ‘world’s youngest billionaire’ is lucky enough to have his very own mansion – a pad he was given before he’d probably even learnt his times tables.
Mompha Junior, 10, is the only son of internet celebrity Ismailia ‘Mompha’ Mustapha, who is believed to have made his fortune from a bureau de change business before making the move into investing.
The young boy from Nigeria is regularly seen dressing up in designer clothes bearing coveted labels like Gucci and Versace.
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His doting dad even bought Mompha Junior his very first mansion back in 2019 to celebrate his sixth birthday, reportedly writing on social media at the time: “Owning your own home is one of the best feelings ever. It can’t be described in words, it can’t be quantified in money.
“Home ownership is a feeling that makes life’s daily grind worth facing. It reassures you that after all the ups and downs you have a place to go to…. A place that will never judge you and always invite you with open arms…
"Congrats My Son on your New Home. Ur birthday Gift from Daddy.”
In another post, Mompha argued that his child has earnt his accolades after ‘paying his dues’.
He said: "The youngest landlord who wears Gucci and still owns a house.
"He deserves some accolades cos he has paid his dues in full."
It is believed Mompha Senior – who has a daughter called Fatima - also likes to buy his kids expensive cars, with his son often posing in front of whips like a Lamborghini Aventador and a cream Bentley Flying Spur on social media.
“Happy birthday to me,” the 10-year-old said on Instagram after posting a picture
In one snap, posted in 2019, he stands in front of a red Lamborghini Aventador wearing designer clothes – including a Versace t-shirt and some pricey-looking sunglasses.
Mompha Senior has a reported net worth of just over £12 million, with the Mirror reporting that, when converted into Nigeria Naira, his fortune is more than 6 billion.
He was arrested back in January of this year after being accused of laundering the equivalent of more than £10 million by Nigeria's anti-corruption agency.
According to local media at the time, he pleaded not guilty to the charges and was released on bail for £350,000.
He was also previously arrested by the Nigeria Immigration Service in 2019, following a watchlist notice by the Economic and Financial Crimes Commission (EFCC). The arrest came as he was board a flight to Dubai at Nnamdi Azikiwe International Airport, Abuja.
The world’s youngest self-made billionaire, meanwhile, is a Massachusetts Institute of Technology dropout called Alexandr Wang.
Forbes said of the 25-year-old: “While he still partners with buzzy companies, today he’s got $350 million in government defense contracts. This has helped Scale hit a $7.3 billion valuation, and give Wang a $1 billion net worth (as he owns 15% of the company).”
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