The blogger was twice as rich as Elon Musk for several minutes and almost went to jail for it
YouTube star Max Foch is technically richer than Elon Musk, but only by 7 minutes. How did he do it and why he almost ended up behind bars, the publication told Daily Star.
Max Foch, who ran for Mayor of London in 2021, has managed to build a £500bn company, almost double Tesla founder Elon Musk's staggering $265bn.
First, the blogger registered a company with the appropriate name Unlimited Money Limited with the relevant UK authorities.
Having created it, he announced that the company would produce pasta, noodles, couscous and "other flour products."
But an integral part of Max's story was that he himself set the value of the company's shares and their number.
The 27-year-old chose 10 billion shares, the maximum allowed for any business in the UK.
When the official certificate was received, Max rushed to the financial district in an attempt to sell shares.
He put on a suit for his big investment day and explained to passers-by, “I created a company and issued 10 billion shares of this company. I am trying to sell one share for £50. Thus, the value of my company is 500 billion pounds ($610,5 billion).”
Miraculously, a charismatic YouTuber convinced someone to sign a share transfer form and part with their cash in exchange for one share of Unlimited Money Limited.
After receiving the document, Max sent it to the company for evaluation and soon received confirmation that "the market capitalization of Unlimited Money Limited is estimated at 500 billion pounds."
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Unfortunately for Max, the financial regulators told him more than that.
They noticed that since he didn't have the income to justify the valuation, he was technically a fraud.
He was told: “There is a high probability that you will now be accused of fraudulent activity. It is for this reason that we strongly recommend that Unlimited Money Limited be liquidated as a matter of urgency.”
In order not to end up behind bars, Max contacted his sole shareholder and closed the company, ending his status as the richest man in the world.
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stdClass Object ([term_id] => 18980 [name] => Elon Mask [taxonomy] => post_tag [slug] => ilon-mask)Ilon Mask
stdClass Object ([term_id] => 27233 [name] => World [taxonomy] => category [slug] => mir)World
stdClass Object ([term_id] => 29852 [name] => richest person [taxonomy] => post_tag [slug] => samyj-bogatyj-chelovek)richest man
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