Steve Mbogo is a businessman who enjoys a lavish lifestyle, including expensive cars, watches, and trips. While he has been labeled as a member of the “new money” by some, Mbogo disputes this label and insists that there is no real difference between old and new money. In his view, it is all about how people choose to spend their money.
Mbogo is not afraid to spend his money on luxury items, such as yachts and parties. He believes that building the right business networks can be expensive, and that he needs to invest in such activities to grow his businesses. Mbogo owns an aviation company with 16 planes and is involved in commodities trading and real estate. He claims that he has two mining concessions in Kenya, one in DRC and another in Tanzania. Despite his success, Mbogo is committed to maintaining the privacy of his business partners and the companies he works with.
Mbogo insists that he can account for every shilling he has earned, and claims that his net worth is above a billion shillings. He owns a large house in Karen that sits on five acres, which he purchased for Ksh500 million two years ago. He is also the proud owner of several luxury cars, including four Benzes, three Land Cruisers VX, and a Rolls Royce Phantom.
While Mbogo has faced allegations of being a gold scammer by some individuals on a gold buying and selling website, he denies these claims and challenges his accusers to come forward and present their evidence. Mbogo believes that people write all sorts of things online, but that they should come forward and make their accusations publicly if they are true.