If you think becoming rich is an onerous thing, here is a YouTuber showing you how he became World’s Richest beating Tesla & SpaceX’s CEO Elon Musk. He didn’t fake anything, but legally made it possible and unveiled his process of becoming the Richest in the World via a YouTube video in his channel, with a caption ‘Come at me Elon’.
Max Fosh, a YouTuber from UK having 645k subscribers in his channel, claimed that he became the world’s richest person for seven minutes, leaving Elon Musk far behind with a net worth nearly twice as that of the Tesla CEO. He did so, by starting out a company named “unlimited Money limited”.
Fosh understood and exploited a market capitalization loophole, that could make anyone who started out a company be the richest for few minutes. However, that loophole, if extended to a period of time, he could have accused of fraud by authorities in the UK.
“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,” Fosh said in the video.
Fosh created the company ‘Unlimited Money Ltd’ from scratch, and dedicated his company as manufacturing macaroni, noodles, couscous and similar “farinaceous” products, to which he says that he doesn’t know what farinaceous means, but that’s what the company does.
Following the registration of the company, he decided to have 10 billion shares in his business venture. And says, “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” in his YouTube video.
So, a company with 10 billion shares is now on-set for issue of shares. Fosh for this set up his shop with two chairs and a table, on a London Street looking for investors in his company looking dashing in his suit and tie and glasses, but soon realized that gathering investors is one hectic job to do in business. “Despite my energetic pitch, the no’s kept on coming”, he says.
After luring the walkers of the street for an investment opportunity, Fosh really managed to find a woman whom had agreed to buy a share for 50 pounds. Fosh on inquiring her, “Why would you like to invest in this company?”, she replied, “On a whim, I feel like it’s meant to be, and I’ll get something from it eventually”.
It is now time to head to the valuation advisor with the paperwork. The next day he ships the documents “to decide his fate.”
Two weeks later, he hears back from the valuation advisor. “Given the range of information provided to us, the market cap of Unlimited Money Limited has been assessed at 500 billion pounds,” he excitedly reads from the advisor’s letter to him.
And this is how, Max Fosh, the founder of Unlimited Money Limited, valued then at 500 billion pounds became the World’s Richest for almost 7 minutes.
His ecstasy doesn’t prevail longer, not over 7 minutes, to be precise. As the letter added, “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”, Fosh decided to dilute the company, to avoid staying behind bars.
Fosh went for searching that woman who had bought a share for him to dissolve the company, as suggested by the valuation advisor. Finally, with her permission, he dissolves the meeting.
That’s the end of the story.
If you doubt why to do all this, the answer is his YouTube video, that got 1.2 M views, with 83K likes & zero dislikes.