A 22-year-old student from Hampshire became the youngest Briton to complete a mountaineering feat, only to have his title taken two hours later.
Geordie Stewart, of Abbot Ann near Andover, completed his "dream" of reaching Everest's peak at 0145 BST on Thursday.
Just over two hours later, a younger man created a new record.
Mr Stewart had scaled the highest peaks on each continent for charity, known as the seven peaks challenge.
Freddie Fforde, his campaign manager, said: "He's just very happy he's achieved his own personal goal.
"He called his dad and his family.
"He was absolutely breathless with all the emotion flooding through him."
Mr Fforde added Mr Stewart is already talking about trekking to both poles, climbing K2 and scaling all 8,000m peaks.
Mr Stewart took time out of his degree in History and Theology at St Andrews University to complete the challenge, supported by his university.
All the money he raises will go to lifeboat charity RNLI.
Last year, Mr Stewart got to within 393ft (120m) of Everest's summit when three of his group got potentially life-threatening altitude sickness. He helped them back down the mountain.
The student returned to the Himalayas this year to achieve a dream he has held since he was 17.
"I am determined to complete the challenge I set myself," he said before he set off.
"Having got so close last year, I feel more focused and even better prepared to fulfil my dream."
Mr Stewart climbed the North route, following the footsteps of Mallory and Irvine in their 1924 expedition.
Mount Everest stands at 29,000ft (8,848m), the highest mountain in the world and also one of the most dangerous to climb.
The mountain's "Death Zone" is so called because after 8,000m the body can no longer acclimatise and human life becomes unsustainable.
Mr Stewart's climbing has taken him around the globe. He reached the top of Kilimanjaro on his 19th birthday and has scaled mountains in South America, Europe, North America, Antarctica and Oceania.
Explorer Ranulph Fiennes acts as Mr Stewart's patron, describing him as "an ambitious young man with genuine determination".