I disagree that it’s a more elegant solution. Suppose I say “While on vacation with a bunch of friends, Chris lost their money.” I bet almost everyone would interpret “their” to mean “Chris and friends’” instead of “Chris’s”.
That particular case could be reworded with “Chris lost some money”. On the other hand, that doesn’t convey that Chris had no money left, so I don’t know.
That particular case could be reworded with “Chris lost some money”. On the other hand, that doesn’t convey that Chris had no money left, so I don’t know.