Tesla CEO Elon Musk, the richest man in the world with a net worth of $238.2 billion according to Forbes Billionaires list, for a brief moment was defeated by a UK-based YouTuber. He also left billionaires Jeff Bezos and Bill Gates far behind.
YouTuber Max Fosh. He has over six lakh followers on the media platform. In his latest video, he explained how he became the world’s richest man for a small period of time. The video was nine minutes long and was captioned “Come at me Elon”. He then in the video demonstrates how easy it is to set up a company in the UK, and all you have to do is fill up a form.
He uploaded the video on his channel on February 13th, 2022 which said ‘I Became The World’s Richest Man For 7 Minutes’. Here he explains how he was able to gain this wealth.
Exploiting a market capitalization loophole, he very soon realized that he needs to dissolve his company as he was being accused of fraud by the UK authorities.
He, in the video, talks about how he had set up a company. At first, he creates a company from the scratch called ‘Unlimited Money Limited’. He decided that the company will be manufacturing macaroni, noodles, couscous, and similar products.
Being quite forthcoming in the registration process, he lists making money under the question ‘What will the company be doing?’
Talking about shares, he decided to go with 10 billion. He mentioned that creating and registering a company with 10 billion shares, and then selling one of those shares for 50 pounds, would legally value his company at 500 billion pounds, thus making him the richest man in the world, replacing Elon Musk.
To look at the part, of the world’s richest man, Fosh goes to the financial district with a table, chair, and bedsheet to use as a tablecloth. He wore a suit with a tie and glasses, looking dapper.
Following this, he begins his pitch. He stops people casually passing by to lure them with an investment opportunity. Though his attempts were ethical he even warns investors that it is not a financially safe investment.
After several people declined, a woman finally agrees to buy a share for 50 pounds. Fosh then heads to the valuation advisor with the paperwork. Two weeks later, he hears back from them. The letter read that the market cap of Unlimited Money Limited has been assessed at 500 billion pounds. He was excited but it did not last long.
Because the letter then said that due to lack of revenue activity, there is a high chance that you are accused of fraud. So they recommend Unlimited Money Limited to be dissolved as fast as possible.
The woman who invested 50 pounds into the company. After the letter from his valuation advisor, found the woman, returned her money, and dissolved his company. The video has more than 61000 likes and no dislikes.