[HOT] : PS5: how this 16-year-old teenager became a millionaire by selling consoles.
The story of a young man who got rich by “scalping” PS5s and other fashionable items is told by the Wall Street Journal. We discover the extreme profitability of the resale of PS5, Pokémon cards and sneakers.
The pandemic has hit the whole world, but some have fared better than others. Helped by coding skills and an appetite for entrepreneurship, a teenager from 16 years old joined the millionaires club by selling PS5 in crazy quantities. An old and profitable practice that we discovered right out of the console.
Told by the Wall Street Journal, the story of the 16-year-old American has caused some anger. At a time when the PS5 is still rare among retailers, some still run the shopping bots… And it still works. Max Hayden, from an already wealthy family, took advantage of his parents’ money to set up a real mass-buying factory on objects in shortage during the crisis : Playstation 5 and Xbox Series X consoles, but also dumbbells, heaters and air conditioners, etc.
This budding businessman indicates, however, that the bulk of his earnings comes down to 4 commodities: the playstation 5, les Xbox Series X, les sneakers and the pokemon cards. All in all, he says it only took him a few months to clear almost 2 million dollars in turnover!
PS5 scalpers: between outrageous profits and the anger of the whole community
By displaying his consoles at $ 1,100 on average, the young man therefore displays sacred performances that his own father takes a dim view. Worried but proud, it is above all the future that makes him doubt this practice. Indeed, the young entrepreneur predicts a year 2021 even more profitable since the shortages continue.
And although it is legal, the consequences can sometimes be serious. We had for example seen a dark story of a robbery on a scalper and its hundreds of consoles, where real gangsters reproduced the techniques of Fast and Furious to rob delivery trucks!
2 million turnover and 0 tax
True company that hides its name, the group of the young man of 16 does not pay taxes but already has two employees (in the black) paid $ 15 per hour and a warehouse rented several months in advance. Max Hayden does “40-hour weeks” and dreams of “investing his money” without specifying where, but cryptocurrencies seem to interest him.
The indecent profits of scalpers had already been reported by other media, but they were still at the heart of the shortage of Playstation 5 consoles. Now, the resale market seems to be opening up. to Pokémon cards, sneakers and luxury products!