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.