Uni dropout turns student loan into £30,000 a month
A University of Buckingham dropout has used his student loan to play the stock market, earning himself tens of thousands of pounds a month.
Elijah Oyefeso, 21, decided to drop out of uni after successfully investing his student loan, and now earns between £20,000 and £30,000 "on a bad month". Rather than staying to complete his business management course and stay in student housing, he now plays the stock market full-time and lives in a £5,000 a month Kensington flat.
How rich is he?
To give an indication of how rich he is - last July Elijah crashed his Lamborghini into his Bentley and then laughed off the incident. An incident which resulted in £450,000 of damages.
Mr Oyefeso, from Camberwell, pictured here in an Instagram photo with his £250,000 car, which he then smashed into a (slightly) less expensive car - also his.
The 21-year-old has appeared in Channel 4’s programme ‘Rich Kids Go Shopping’ that follows how rich young people spend their money. In the programme he revealed his weakness for super cars:
“When you're little you've got your ideal car, you've got your dream car. Some kids are like '"I want to get a Bugatti, I want to get a Ferrari."' But I got it. That was my dream, I worked for it, I got it”.
He then smashed that dream car into another dream car, causing a collision made entirely out of dreams.
After successfully playing the stock markets for three years, Elijah now plans to give a little back - he's about to build his mother a house in Africa. At the moment he's keeping it a secret from her somehow, despite national press attention and a Channel 4 documentary on his spending habits.
'It's a surprise I haven't told her yet.'
Does he regret dropping out?
Not really. His income on a bad month is more than a lot of students owe in tuition loans, at between 20,000 and £30,000. And on a good month?
“On a good month, I don't think I can tell you that.”
Mr Oyefeso is now building a company - DCT Training Group - helping others invest in stocks.
'You want to leave a name when you're gone. Think about JP Morgan, the assets are worth 2.6 trillion. So that's a lot.”
He has also just bought a £125,000 Mercedes GTS. Not a bad use of a student loan. We bought noodles. Lots and lots of noodles.