Beautiful Virgin Islands

Thursday, Feb 02, 2023

Man Claims He Became World's Richest Person For 7 Minutes

Man Claims He Became World's Richest Person For 7 Minutes

However, Max Fosh soon realised that he needed to dissolve his company as he was being accused of fraudulent activity

A YouTuber has claimed to have become the world's richest person, surpassing the wealth of tech billionaire Elon Musk. But his stint at the top of the money table was short-lived, for 7 minutes, to be precise. Max Fosh, who exploited a market capitalisation loophole, also realised that he needed to dissolve his company immediately as he was being accused of fraud. He has shared a video of how he made this happen and also why he had to shut his company down. On paper, he claimed, he was the world's richest person for 7 minutes.

The video showed how he had 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," Mr Fosh said, explaining the procedure. But he needed a name for the company, which should end with "Ltd". So, he mockingly named the venture 'Unlimited Money Ltd'.

Now, he had to decide 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 said.

Next up were shares. He decides 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," Mr Fosh said in the video.

However, finding investors was not easy. The YouTuber set up his shop, with two chairs and a table, on a London street.

"Despite my energetic pitch, the no's kept on coming," he says.

However, after initial setbacks, he found his first investor - a woman who bought one share for 50 pounds.

He asks her, "Why would you like to invest in this company?" She replies, "On a whim, I feel like it's meant to be, and I'll get something from it eventually."

Soon, trouble followed. The video showed Mr Fosh receiving a letter, presumably from the authorities. It read, "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."

Mr Fosh did exactly that. But for 7 minutes, the YouTuber claimed to have been the world's richest man.

Watch the video here:


At the time of writing, the video had been viewed over 5.80 lakh times. It had also racked up many comments.

One user asked, "So when can we expect the release of "Unlimited Money (TM) Pasta"?

Another user felt bad for the woman who invested 50 pounds. "You should at least take her out on a shareholders dinner," wrote the user.

A third user felt the woman could have asked for 51 pounds to dissolve. That way, she "could have made a 2 per cent profit on her investment".

There was also one user who suggested a wordplay on the name of the company. "Personally, I would've gone with 'Money Un' so the full name would be 'Money Un, Limited,'" wrote the user.

This entire episode also led to a discussion thread - Becoming the World's Richest Man For 7 Minutes - on Reddit. At the time of writing, 87 per cent users had upvoted for it.

So, what do you think of the entire incident? Tell us in the comments section below.

Newsletter

Related Articles

Beautiful Virgin Islands
Close
0:00
0:00
WARNING GRAPHIC CONTENT - US Memphis Police murdering innocent Tyre Nichols
I have a dream, MLK inspiring speech
Almost 30% of professionals say they've tried ChatGPT at work
Aretha Franklin, Marvis Staples - Oh Happy Day
Interpol seeks woman who ran elaborate exam cheating scam in Singapore
BVI Freedom Song
What is ChatGPT?
Billy Preston - You Can't Beat God Giving (Live)
Bill Gates is ‘very optimistic’ about the future: ‘Better to be born 20 years from now...than any time in the past’
VIRGIN ISLANDS REGGAE CARIBBEAN RIDDIMZ
Tesla reported record profits and record revenues for 2022
Oh Happy Day Edwin Hawkins - Anthony Brown w FBCG Combined Choir
Prince Andrew and Virginia Giuffre Photo Is Fake: Ghislaine Maxwell
'Stand by Me' performed by Karen Gibson and The Kingdom Choir
Opinion | Israel’s Supreme Court Claims a Veto on Democracy
National Anthem of the British Virgin Islands - Oh, Beautiful Virgin
Moonwalker Buzz Aldrin Gets Married On His 93rd Birthday
Hello Dolly
Who’s Threatening Israeli Democracy?
for KING & COUNTRY - Amen (Reborn) [feat. Lecrae & The WRLDFMS Tony Wi
Federal Reserve Probes Goldman’s Consumer Business
Bob Marley - Get Up Stand Up
China's first population drop in six decades
Yes He Can
Microsoft is finalising plans to become the latest technology giant to reduce its workforce during a global economic slowdown
What A Friend We Have In Jesus
China's foreign ministry branch in Hong Kong urges British gov't to stop the biased and double standards Hong Kong report
Unforgettable
Tesla slashes prices globally by as much as 20 percent
Touch The Hem Of His Garment
1.4 Million Copies Of Prince Harry's Memoir 'Spare' Sold On 1st Day In UK
The Lord's Prayer
After Failing To Pay Office Rent, Twitter May Sell User Names
THE GOD MOVEMENT...BEAUTIFUL BVI
Lisa Marie Presley, singer and daughter of Elvis, dies aged 54
Siyahamba
FIFA president questioned by prosecutors
Ray Charles And The Voices Of Jubilaton, Oh, Happy Day
Britain's Sunak breaks silence and admits using private healthcare
Ramblin' Rose
Hype and backlash as Harry's memoir goes on sale. Unnamed royal source says prince 'kidnapped by cult of psychotherapy and Meghan'
Protoje - Who Knows ft. Chronixx
Saudi Arabia set to overtake India as fastest-growing major economy this year 
Pressure - Virgin Islands Nice
Google and Facebook’s dominance in digital ads challenged by rapid ascent of Amazon and TikTok
Phil Wickham - House Of The Lord
FTX fraud investigators are digging deeper into Sam Bankman-Fried's inner circle – and reportedly have ex-engineer Nishad Singh in their sights
My God Is Real (Yes, God Is Real)
TikTok CEO Plans to Meet European Union Regulators
The Lion King Circle of Life by LEBO M. — LIVE at the HAVASI Symphonic
UK chaos: Hong Kong emigrants duped by false prospectus
Louis Armstrong - When The Saints Go Marching In
France has banned the online sale of paracetamol until February, citing ongoing supply issues
Kanye West Sunday Service - hallelujah, salvation, and glory
Japan reportedly to give families 1 million yen per child to move out of Tokyo
Jonathan Nelson - I Believe (Island Medley
Will Canada ever become a real democracy?
From The Virgin Islands Sqad Up
Hong Kong property brokerages slash payrolls in choppy market
Common, John Legend - Glory
U.S. Moves to Seize Robinhood Shares, Silvergate Accounts Tied to FTX
Anthony Evans vs. Jesse Campbell - If I Ain't Got You
Effect of EU sanctions on Moscow is ‘less than zero’ – Belgian MEP
I have a dream, MLK inspiring speech
Coinbase to Pay $100 Million in Settlement With New York Regulator
Aretha Franklin, Marvis Staples - Oh Happy Day
×