Tesla CEO Elon Musk is the richest man in the world with a net worth of $238.2 billion according to Forbes Billionaires list. But for a brief moment of time a UK-based YouTuber became the richest man in the world leaving Musk and billionaire friends such as Jeff Bezos and Bill Gates far behind. Also Read - Google, Meta, Apple, Spotify and more: Why tech companies are slowing down hiring
YouTuber Max Fosh, who has over six lakh followers on the platform, in his latest video explained how he became the world’s richest man for a brief period of time. In the nine-minute long video, which he captioned – “Come at me Elon”, Fosh demonstrates how easy it is to set up a company in the UK. All it takes is to fill up a form. Also Read - YouTube tips: Top 5 features that you would want to try out now
In the video, the YouTuber can be seen setting up a company called ‘Unlimited Money Ltd’ with 10 billion shares. Fosh proposes that if he sells those shares for 50 pound each, that would make him a billionaire with his net surpassing The SpaceX founder by roughly twice the amount. “If I created and registered a company with 10 billion shares with about unlimited money limited and sold one share for 50 pounds as an investment opportunity, that would legally value my company at 500 billion pounds, technically,” he says in the video that has amassed over 5.95 lakh views so far. Also Read - Twitter accepts October 17 trial but is concerned Musk will try to delay
“That would make me the richest man in the world, absolutely decimating my nearest rival Elon Musk,” he adds.
Next, it is time to look the part and look for investment. In the video, Fosh can be seen donning a suit and heading to the city’s financial district with a table, a chair, and table cover, where he asks people to invest 50 pounds in his company as an investment. But finding investors isn’t easy. “Despite my energetic pitch, the no’s kept on coming,” Fosh shares.
After a lot of rejections, Fosh finally finds one woman who is willing to invest 50 pounds in his company. After the initial investment, he heads over to the valuation advisor with the paperwork. Almost two weeks later, he hears back from the valuation advisor.
“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,” the valuation advisor recommends.
Simply put, since the company has no revenue, there is nothing to back up his valuation. In other words, he is being accused of fraud. To save himself he needs to find the woman who invested in his company to dissolve his company. He finds the woman’s email via the paperwork and reaches out to her. And finally after her permission, he dissolves the company.
Though the YouTuber’s company doesn’t survive to see the end of day, but for a brief period of time, seven minutes to be precise, Fosh claims that he was the world’s richest man.