Someone just pipped Elon Musk to become worlds richest man for seven minutes! Know his story here!

You might have heard the famous saying that success does not happen overnight!

You might have heard the famous saying that success does not happen overnight! It takes months, years, and in most cases, over decades to master something. However, the story that we will be sharing today, would defy this saying that ‘success is not an overnight type of deal’ as a British man claimed on YouTube that he had become the ‘world’s richest man for seven minutes’ in a matter of just a few days!   

Grab yourself some popcorn and coke as we unfold this interesting and epic story!  

Maximilian Arthur Fosh (Max Fosh), who is an English YouTuber and radio presenter aged 26 years, registered a company online from his living room under the name, ‘Unlimited Money Limited’. The next question that popped up in the online form was - ‘what will the company be doing?’ He jokingly wrote- ‘Making money’, but, an error popped up that asked him to choose the 'company’s business activity' then, he casually checked the box that stated- ‘manufacturing macaroni, noodles, couscous and similar farinaceous products’. And interestingly, he said in the video, “I don’t know what does farinaceous means but that’s what the company does.”  

Now comes the most interesting part of this story wherein, Max Fosh had to decide how many shares he was going to issue in a company. Wherein at first, he typed in a trillion shares and an error popped in yet again saying, ‘enter a valid number of shares’. So, finally, he settled with a 10 billion figure. With this, his application was submitted and he was eagerly waiting for the response.   

Interestingly, within no time, Max receives a certificate of incorporation and now, Unlimited Money Ltd was officially a company! The next important task for Max was to sell the share of the company and he decided to sell a single share of the company for 50 pounds. Max was on to this task by tying in a perfect suit and setting up a shop in London’s financial district. After some persuasion, he finds an investor whose name was Hope. He then sends the documents to the valuation adviser.   

A couple of weeks later, he gets a response that stated that the market cap of the company is assessed at 500 billion pounds, which resulted in making him the richest man in the world, but since the company did not have any revenue, the letter said, “due to lack of revenue activity, there is highly likely that you are now being accused of fraudulent activity”.  

So, finally, he decided to dissolve the company after getting a nod from the shareholder.

This story is trending on most of the social media platforms but our point to share this post is to make you aware that as an investor, you must do a thorough check on the financials of the company before investing in it and be financially aware!