Man Claimed To Be The Richest Person But Only For 7 Minutes
Max Fos realised that he needed to dissolve his company immediately as he was being accused of fraud.
A YouTuber claims to have surpassed the income of tech billionaire Elon Musk as the world's richest person. His time at the peak of the money table, however, was limited, lasting only 7 minutes.
Max Fosh, who took advantage of a market capitalization flaw, realised he needed to disband his company right away since he was being investigated for fraud. Fosh posted a trending video of how he did it, as well as why he had to shut down his business. He claimed that he was the world's wealthiest person for 7 minutes on paper.
The trending video demonstrated how he had established a business. In the United Kingdom, forming a business is quite simple. There's a thing called the company's house, and it's just a form that you complete out Mr. Fosh explained the method to me. He did, however, require a company name that ended in Ltd. As a result, he mockingly dubbed the company 'Unlimited Money Ltd.'
Mr. Fosh went ahead and did just that. However, for 7 minutes, the YouTuber claimed to be the richest guy on the globe. The trending vidoe had been seen over 5.80 lakh times at the time of writing. It had also received a lot of feedback. Here is the trending video have a look at it:
Afterwards he had to determine what the company's purpose would be: to manufacture macaroni, noodles, couscous, and other farinaceous items. He explained that he wasnot sure what farinaceous means, but that 's exactly the company does.
Then there were the shares. He settles on a figure of ten billion dollars. Mr Fosh claimed in the video, if he founded and registered a business with 10 billion shares, and then sold one of those shareholdings for 50 pounds, it would legally valued my company at 500 billion pounds, putting him the richest man in the world, completely decimating him to the nearest opponent Elon Musk.
Finding investors, on the other hand, was not easy. On a London street, the YouTuber set up shop with two chairs and a table.
Following a series of setbacks, he eventually found his first investor, a woman who purchased one share for 50 pounds. He inquired that the why would you desire to invest in this company? She responded that on a whim, she felt like it's meant to be, and she will get something out of it eventually.
Trouble was soon to loom as Mr Fosh was seen in the video getting a letter, presumably from the authorities. It said that the market capitalization of Unlimited Money Ltd has been estimated at 500 billion pounds based on the information provided to us. There's a good chance you're being accused of fraud because you haven't generated any revenue. It is for this reason that we strongly advise that Unlimited Money Limited be dissolved immediately.