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.

Da Niels Stone (Poul Reichhardt) vender tilbage til familiegodset efter sin faders død, må han se i øjnene, at det eneste faderen efterlod ham, er den fine væddeløbshest Ibrahim. Det bliver hans mål at vinde årets store løb, og han får hjælp af den skægge, gamle Nicholaisen (Peter Malberg) og søde Kirsten (Grethe Holmer). Hvad Niels imidlertid ikke ved, er, at den der vinder det store løb, faktisk også vinder godset. Men andre er også ude efter godset, og de går ikke af vejen for noget i deres forsøg på at forhindre Niels's deltagelse i det store løb.