Boy, 16, made £1.2million selling Playstation 5 consoles amid major worldwide shortage

dailystar.co.uk:

MH Book Store started off flogging outdoor heaters, Pokemon cards, dumbbells and hair clippers before moving onto next-gen consoles.Operating through Amazon as a web shopfront with a 100% positive rating, Max and his friends reportedly made more than $110,000 (£84,000) in profit in 2020, which made him decide to carry on into 2021.Max told the Wall Street Journal he spent about 40 hours a week running the shop and managing two employees as well as spreadsheets on top of his schoolwork.He reportedly got ahead of struggling gamers by preordering 10 PS5 consoles in September 2020 using his own savings and then jacking up the prices on his own store.

Max even made friends with workers at a local Walmart to get tip-offs about new PS5 stock. Max's father of the same name said he was uncomfortable at first with his son profiting from the pandemic but warmed to the idea when he realised Hayden was reselling luxury goods, like the PS5, rather than necessities.The Playstation 5 and the Xbox Series X have faced significant supply shortages ever since first being released due to a global scarcity of semiconductors.

This has meant gamers around the world have spent hours or even days queuing to buy the new consoles, or paying over the odds to resale scalpers..