Paypal makes a man a quadrillionare, for a moment
A Paypal error made a Pennsylvania man the richest person on the planet, giving him more money than the entire world’s money supply.
If only for a moment Pennsylvanian Chris Reynolds was the richest person alive.
When Reynolds opened his Paypal account statement one morning, to his shock he had been credited $92,233,720,368,547,800. That’s 92 quadrillion dollars.
In contrast the world’s richest man, Mexican telecom mogul Carlos Slim, has a net worth of $73 billion. Bill Gates comes in second place with a net worth of $67 billion. Reynolds would have been more than a million times richer than either of these men.
In fact, Reynolds would have more money to his name than the entire world’s money supply. The Federal Reserve estimates the world’s M3 money supply to be $10.3 trillion, and on paper Reynolds had more than that.
According to a local paper in Reynolds’ hometown, Reynolds uses Paypal to sell auto parts online. He was expecting a balance of $0 in the account.
Speaking to the Daily News Reynolds said that if the statement was true he’d pay down the debt and go on a shopping spree.
“I’m a very responsible guy,” he said. “I would pay the national debt down first. Then I would buy the Phillies, if I could get a great price.”
Reynolds said that after the amount on the account was fixed he got another notice from Paypal, asking him to verify the credit card number attached to the account.
“Even though I have 90 quadrillion dollars, they still don’t trust me,” he said.
Paypal admitted to the error, but won’t discuss the details of what happened citing client privacy.
Source: Daily News