A famous YouTuber, Max Fosh, claims to have become the world’s richest person, that too for 7 minutes. Announcing the happening on YouTube, the man said that for a few moments he even surpassed tech billionaire Elon Musk.
But as mentioned earlier, his such a brief stint only lasted for 7 minutes. Max Fosh, who exploited a market capitalization loophole, also realized that he needed to dissolve his company immediately as he was being accused of fraud.
Sharing a video of how it all happened he also explains how he had to shut his company down. On paper, he claimed, he was the world’s richest person.
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The video shows how he did all to up a company. “In the UK, it’s quite easy to set up a company. There’s something called the company’s house, and you essentially fill a form,” Mr Fosh said.
Since he was searching a name for his company, which should end with “Ltd”. So, he mockingly named the venture ‘Unlimited Money Ltd’.
Then, he had to come onto what would be the company for – manufacturing macaroni, noodles, couscous and similar farinaceous products. “I don’t know what farinaceous means, but that’s what the company does,” he wrote.
YouTube Max Fosh claims to be world’s richest person
For shares, he decided on 10 billion. “If I created and registered a company with 10 billion shares, and then sold one of those shares for 50 pounds, that would legally value my company at 500 billion pounds, thus making me the richest man in the world, absolutely decimating my nearest rival Elon Musk,” Max Fosh said in the video.
But finding the investors is not an easy task indeed. For the same, the YouTuber set up his shop, with two chairs and a table, on a London street.
After initial hiccups, he found his first investor – a woman who bought one share for 50 pounds.
But trouble followed sooner. The video shows Max Fosh receiving a letter, presumably asking him to dissolve the company on account of fraudulent activity.
It reads, “Given the range of information provided to us, the market cap of Unlimited Money Ltd has been assessed as 500 billion pounds. Due to lack of revenue activity, there is a high likelihood that you are being accused of fraudulent activity. It is the reason we highly recommend Unlimited Money Limited is dissolved as a matter of urgency.”
Fosh did the same. But for 7 minutes, the richest YouTuber enjoyed his position even above Elon Musk.
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