Tiburtius "Tibbe" Petterson is a poor photographer who lives in Gamla Stan in Stockholm, together with his other poor friends, including his fiancée Maja. One day, an old "friend" of theirs, Ludde, who has risen from poverty, turns up and starts to try taking Maja away from Tibbe. This, of course, makes him a little sad, but after a fight, Tibbe is fetched by the police and brought to a big mansion. It turns out, that he is the heir of the mansion, together with a big fortune. Now, he has means of competing with Ludde about Maja, but there turns out to be a condition in the will: He must stop seeing his old friends. Now he has to choose. Will he become a rich snob and risk losing the girl he loves or value friendship and love higher than money?