A UK-based YouTuber is claiming that he surpassed Elon Musk as the world’s richest person, for about 7 minutes on paper.
YouTuber Max Fosh has more than 600,000 followers. He recently posted a video explaining how he beat Elon Musk to become the world’s richest man for 7 minutes.
A YouTuber Dehtrowns Elon Musk As The World’s Richest Man
“Come at me Elon,” Fosh wrote in the description section of the video. He reportedly took advantage of the market capitalization loophole, as per a report by MoneyControl.
However, he decided to dissolve his company immediately after UK authorities accused him of fraud. In the video, YouTube details how he set 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,” he explains.
Further in the video, he goes on to create a company called Unlimited Money Limited from the scratch. Moreover, he had to decide whether the company would be for manufacturing couscous, noodles, macaroni, and other similar farinaceous products.
“I don’t know what farinaceous means, but that’s what the company does,” he said.
Under the header “What will the company be doing?” Fosh writes, “making money.”
Aside from that, the YouTuber decides 10 billion shares, saying, “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.”
He goes on to add, “thus making me the richest man in the world, absolutely decimating my nearest rival Elon Musk.”
Looking Like The World’s Richest Man
Fosh brings a table, a chair, and a bedsheet to cover the table while looking dapper in his suit, tie, and glasses.
He stops some passers in a bid to share details about an “investment opportunity”. Nevertheless, he doesn’t ditch ethics, warning prospective investors: “It is not financially a very safe investment.”
After multiple “no”s, a woman agrees to shell out 50 pounds to purchase the shares. “Why would you like to invest in this company?” Fosh asks her.
“On a whim, I feel like it’s meant to be, and I’ll get something from it eventually,” the woman replied.
He then heads to the valuation advisor for the paperwork. He then ships the documents “to decide his fate.”
The valuation advisor gets back to him after two weeks. “Given the range of information provided to us, the market cap of Unlimited Money Limited has been assessed at 500 billion pounds,” Fosh reads from the advisor’s letter to him.
However, trouble follows as the letter further states, “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.”
Now, he had to find that one woman who had purchased a share for him so that he can dissolve the company, as per the valuation advisor’s suggestion.
Much to his relief, Fosh finds her email on the paperwork and contacts her. With her permission, he finally dissolves the company.