The 18-year-old from Southampton was stopped by Hampshire police in St Mary’s, when they spotted him riding an illegal e-scooter.
A search uncovered two large Rambo knives in his waistband, leading to his arrest.
In a subsequent search of his home, Hampshire police found more than £5,000 in cash, additional knives and a large number of mobile phones, which were seized.
The man was arrested on suspicion of possession of a bladed article in a public place, possession of offensive weapons for the purpose of sale or hire, and acquiring, using or possessing criminal property.
He has since been released on bail, with conditions in place which police are monitoring.
Enquiries remain ongoing.