Being a multi-billionaire is a dream for almost all people. A YouTuber was able to achieve this dream but only for seven minutes. Max Fosh, the UK-based YouTuber, claimed he had become the world’s richest person, with net worth nearly twice as much as that of the tech billionaire Elon Musk.
Max Fosh, who has over 655k followers on his YouTube channel, created a video of how he set up his company exploiting a market capitalization loophole. But after the authorities in the UK accused him of fraud, he had to dissolve it immediately. He claimed that he was the world’s richest person for seven minutes only on paper.
“There’s something called the company’s house, and you essentially fill a form,” Fosh said.
How did Max Fosh become so rich?
‘Unlimited Money Ltd’ was the name that he called on his business. Fosh decided to manufacture macaroni, noodles, couscous, and similar products.
Next, he made the shares for his business at 10 billion. However, Max Fosh thought that if his company was registered with 10 billion shares valued at £50 apiece, then the market capitalization of this business would be £500 billion. That will make him the world’s richest man surpassing his competitor Elon Musk.
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Fosh’s office was only a table and two chairs in London’s Street. A single woman was the only person who agreed to buy one share for £50.
It didn’t last for a long time, because the UK authorities informed the YouTuber that the market cap of Unlimited Money Ltd was assessed to be £500 billion without much revenue activity. “It is the reason we highly recommend Unlimited Money Limited is dissolved as a matter of urgency,” the authorities said in a letter. So, Fosh shut his company, with a happy memory of being the world’s richest man for those seven minutes.
The video garnered had been viewed more than a million times on YouTube by the time this article was written.