YouTuber says he overtook Elon Musk as world's richest man for 7 minutes and almost got jailed

Influencers usually compete to achieve a higher number of followers, which they can monetize later on, but breaking into the global rich list isn't normally on the agenda. That didn't stop a UK-based YouTuber named Max Fosh, who claimed that he became the world's richest person dethroning Elon Musk back in 2022, albeit for a short period of time. Fosh who became the richest man in the world for a fleeting seven minutes, pulled it off by simply setting up a company with a theoretical value of £500 billion pounds, which helped him surpass Musk by a substantial margin.

In the video shared by Fosh, he explained how he took advantage of the ease with which one can set up a company. For that, one simply needs a company's house before filling a form. But he also needed a name for the company, which should end with "Ltd," and hence decided to call the venture 'Unlimited Money Ltd'.

For setting up the company he ticked the box which said, manufacture of "macaroni, noodles, couscous, and similar farinaceous products," according to Business Today. In the YouTube video, Fosh said if his company was registered with 10 billion shares valued at £50 apiece, the market capitalization of his company would be £500 billion, which explains the valuation. He then set up his office with two chairs and a table in London but never got any investors. In the video, he is seen enthusiastically pitching his venture to several people only to face rejection every time. Finally, he was able to secure an investment from a woman.

After he collected the money, it was time to send the documents. "Today is a big day, I am sending off all the documents that I need for the evaluation. It's got the stock transfer form from the woman, and other documents, sending it off today. I don't know how long is it going to take to get a response back. Big Day for Unlimited money limited!" he said. 

Soon, he received a letter from the authorities based in the UK, informing him that the market cap of the company was assessed to be £500 billion without much revenue activity which raised suspicion of fraud. They then asked him to dissolve Unlimited Money Limited urgently. "Because the company had no revenue, therefore nothing to back up this valuation, I was technically being accused of fraud," he says.

Fosh then started looking up the process of closing the company. He soon realized that he needed permission from the shareholders for the same, and was soon able to contact the woman named Hope who had invested in it. With her permission and a few other forms, the company was successfully shut down. 

"Unlimted Money Limited is no longer active," Fosh said with a sigh of relief adding that during the seven minutes that he spent setting up and closing down the firm, he was the richest man in the world. While the company may not have earned him any real money, the video did go viral on YouTube.