UK-based YouTuber Max Fosh recently claimed to have become the world's richest man for seven minutes, surpassing Elon Musk's wealth.
The video was uploaded on his channel on February 13th 2022 titled ‘I Became The World’s Richest Man For 7 Minutes’. In his video, he breaks down his statement and explains how he went about gaining this wealth.
His plan was to build and register a company called ‘Unlimited Money LTD.’ The company was to be registered with 10 billion shares and the price of each share would be 50 pounds. If this happened, the value of the company would be 500 billion pounds, making him the richest person on the planet.
The process of opening and registering a company in the UK is pretty straight forward. You just have to use a facility called ‘company’s house’ and fill out and form and the process begins. The registeration process was completed, and Fosh revived the required documents and set his plan into motion. To sell his shares he was out on the streets pitching his plan to passers by and asked them to invest in his business.
As the video progresses, Max tells his audience that he has received the call he was waiting for; his company’s market cap was assessed at 500 billion pounds. He also received a letter from his valuation advisor that he could be accused of fraud due to a lack of revenue activity.
In his time on the streets looking for investors, one lady did invest 50 pounds into the company. After the call from his valuation advisor, he traced the woman down, returned her money and dissolved his company.
(With inputs from MoneyControl)
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