“I’m not just spending my dad’s money” — Billionaire’s son, Raheem Okoya speaks on wealth, music career and pressure

Raheem Okoya, son of billionaire industrialist Razaq Okoya, has pushed back against claims that his lifestyle is funded solely by his father’s fortune.

In an interview with BBC News Yoruba, the 22-year-old Executive Director of Eleganza Industries said he earns his own salary and also has investors backing his music career.

“I’m not just spending the chairman’s money; I work. I earn a salary. I have investors. People believe in my music and put money behind it,” he said.

Raheem revealed that he spent 10 years understudying his father in preparation for his current role.

“I’ve been learning this position my whole life. From when I was in school, I’ve been shadowing my dad. It’s not an overnight thing. It’s been 10 years in the making,” he said.

According to him, his father, who built the Eleganza brand from scratch, made sure his children understood the value of hard work and financial discipline.

“My dad wasn’t born rich. He tries to instill those values in his kids. He wants his kids to also be able to work and build a fortune rather than just spend and destroy,” he added.

Despite his preparation, Raheem admitted that his age is still a challenge.

“It’s definitely challenging. It’s a heavy responsibility. People already look at you. You’re young. They already want to doubt you. You always have to prove that you know what you’re talking about,” he said.

Beyond business, he also spoke about his love for music, revealing that Fuji legend King Wasiu Ayinde Marshal was a big part of his upbringing.

“K1 is a legend. He used to ring in the corridors of my house,” he said.

Raheem added that his biggest motivation is making his father proud.

“I love my dad so much. He’s my number one hero, my mentor. I just hope I can really, really make him proud one day.”

He also addressed media portrayals of his lifestyle, accusing some outlets of pushing “fake news” to paint him in a negative light.

“I don’t like fake news. I hate fake news. The media likes to put me up as a villain. They know what gets people riled up and moving. It’s not always the truth,” he said.

“They will take a little thing or completely change the narrative and perspective on me. It’s not nice. It’s painful.”