Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Man Claims He Became World's Richest Person For 7 Minutes

Man Claims He Became World's Richest Person For 7 Minutes

However, Max Fosh soon realised that he needed to dissolve his company as he was being accused of fraudulent activity

A YouTuber has claimed to have become the world's richest person, surpassing the wealth of tech billionaire Elon Musk. But his stint at the top of the money table was short-lived, for 7 minutes, to be precise. Max Fosh, who exploited a market capitalisation loophole, also realised that he needed to dissolve his company immediately as he was being accused of fraud. He has shared a video of how he made this happen and also why he had to shut his company down. On paper, he claimed, he was the world's richest person for 7 minutes.

The video showed how he had set up a company. "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," Mr Fosh said, explaining the procedure. But he needed a name for the company, which should end with "Ltd". So, he mockingly named the venture 'Unlimited Money Ltd'.

Now, he had to decide what would be the company for - manufacturing macaroni, noodles, couscous and similar farinaceous products. "I don't know what farinaceous means, but that's what the company does," he said.

Next up were shares. He decides on 10 billion. "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," Mr Fosh said in the video.

However, finding investors was not easy. The YouTuber set up his shop, with two chairs and a table, on a London street.

"Despite my energetic pitch, the no's kept on coming," he says.

However, after initial setbacks, he found his first investor - a woman who bought one share for 50 pounds.

He asks her, "Why would you like to invest in this company?" She replies, "On a whim, I feel like it's meant to be, and I'll get something from it eventually."

Soon, trouble followed. The video showed Mr Fosh receiving a letter, presumably from the authorities. It read, "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."

Mr Fosh did exactly that. But for 7 minutes, the YouTuber claimed to have been the world's richest man.

Watch the video here:


At the time of writing, the video had been viewed over 5.80 lakh times. It had also racked up many comments.

One user asked, "So when can we expect the release of "Unlimited Money (TM) Pasta"?

Another user felt bad for the woman who invested 50 pounds. "You should at least take her out on a shareholders dinner," wrote the user.

A third user felt the woman could have asked for 51 pounds to dissolve. That way, she "could have made a 2 per cent profit on her investment".

There was also one user who suggested a wordplay on the name of the company. "Personally, I would've gone with 'Money Un' so the full name would be 'Money Un, Limited,'" wrote the user.

This entire episode also led to a discussion thread - Becoming the World's Richest Man For 7 Minutes - on Reddit. At the time of writing, 87 per cent users had upvoted for it.

So, what do you think of the entire incident? Tell us in the comments section below.

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
Western Europe Records Hottest June on Record
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
China’s Central Bank Consults European Peers on Low-Rate Strategies
France Requests Airlines to Cut Flights at Paris Airports Amid Planned Air Traffic Controller Strike
Poland Implements Border Checks Amid Growing Migration Tensions
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Massive Anti-Government Protests Erupt in Belgrade
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Hungary's Prime Minister Criticizes NATO's Role in Ukraine
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Hungarian Scientist to Conduct 30 Research Experiments on the International Space Station
NATO Members Agree to 5% Defense Spending Target by 2035
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
International Astronaut Team Launched to Space Station
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
Oil Prices Set to Surge After US Strikes Iran
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
×