YouTuber Claims He Became Richest Man in the World for Seven Minutes, Briefly Beating Elon Musk
How did a YouTuber manage to become the richest man in the world for just a few minutes?
On Sunday (Feb. 13), 26-year-old U.K.-based internet personality Max Fosh uploaded a YouTube video titled "I Became The World’s Richest Man For 7 Minutes." And no, according to him, it wasn't clickbait.
First, Max registered a company called Unlimited Money Ltd. using Companies House. When the government form asked what the company does, he selected "manufacturer of macaroni noodles, couscous and similar farinaceous products."
After learning the limit of how many shares an operating business in the U.K. can reach — 10 billion — he maxed the number of shares. Despite the form stating it would take approximately two business days to create a legally binding certification of incorporation, he was approved within minutes.
In an effort to get the company evaluated at £500,000,000,000, Max then had to get just one stranger to invest £50 in a single share of his company. To do this, he took to the streets — literally.
He set up a folding table on the sidewalk in the financial district of London with a homemade sign that read, "Investment opportunity." Numerous people stopped by Max's booth to chat with him, and a few even promised to think about it and return if they were interested.
Just when it seemed all hope was lost, a woman named Hope (the irony!) agreed to purchase a single share in the company. She signed the stock form and it became official.
Max then sent the paperwork to an evaluation advisor. When he received a response, he was surprised that he had actually done it — but there was a catch.
The letter read:
Dear Mr. Max Fosh,
There are numerous methods of evaluation including but not limited to times revenue method earnings multiplier, things I don't understand. Given the range of information provided to us the market cap of unlimited money has been assessed as 500 billion pounds.
However, because Max's company technically did not have any revenue, there was nothing to back up the shares — which meant he could be accused of fraud. His advisor suggested he dissolve the corporation.
Max FaceTimed his one shareholder to get her permission to dissolve the company and returned the money she had invested.
The British government apparently accepted the business' dissolution and just like that, he was no longer the richest man in the world. Still, he ended up framing his certificate to remind himself that for a brief time, he was supposedly No. 1. (Take that, Elon Musk!)
See how the whole situation unfolded, below.