Due to his weakness for women and gambling, the old landowner Vilhelm Stone has ruined his marriage and lost his son and friends. But when he dies, his son Niels returns home from Australia to take over the estate. However, it is not that simple. Lawyers drag out the inheritance case, and initially Niels only inherits the racehorse Ibrahim. Niels is determined to win the big race of the year at the racetrack, and it is here that Poul Reichhardt sings the famous schlager Ibrahim to his horse. In the battle to get the family estate, Niels gets incredible help from his faithful companion, the farmhand Nicholajsen.