Bill Ackman manages $18 billion in funds; he criticized the “illegal” X blocking and freezing of Starlink accounts
Pershing Square Capital founder Bill Ackman expressed concern this Sunday (September 1, 2024) about the future of the investment market in Brazil. According to him, with the departure of X (formerly Twitter) and the blocking of Starlink accounts, the country is heading towards a market “not investable”.
On social media, the investor criticized the measures taken by Minister Alexandre de Moraes, of the STF (Supreme Federal Court). According to him, China committed “similar acts” and for that reason there was a capital flight and a collapse in valuations.
“The illegal closure of X and the freezing of Starlink accounts put Brazil on a fast track to becoming an uninvestable market. China has committed similar acts, leading to capital flight and collapsed valuations. The same will happen to Brazil unless it quickly backs down from these illegal acts.”Ackman said in his official profile on X.
In the post, the investor shared a tweet from billionaire Elon Musk, owner of X. In postMusk announces the creation of a profile to publicize Alexandre de Moraes’ decisions.
Moraes ordered the suspension of X in Brazil. However, Brazilians abroad continue to have normal access to the platform. This is how this digital newspaper read the messages posted by the deputy and is responding to this text, as they are of public interest and have journalistic relevance.
WHO IS BILL ACKMAN
William Albert Ackman is an American billionaire mega-investor and founder and CEO of Pershing Square Capital Management, a hedge fund management firm that manages $18 billion in assets.
On X, Ackman often posts supporting the ideas of former US President Donald Trump, and criticizing President Joe Biden and his vice president, Kamala Harris, now a candidate for US President.
UNDERSTAND
The overthrow of X was determined by STF minister Alexandre de Moraes on Friday (30.Aug).
The judge’s decision came after Elon Musk failed to comply with an order requiring the identification of a legal representative of the company in Brazil within 24 hours. The subpoena was issued by the minister on Wednesday (August 28). Musk had until 8 pm (Brasília time) on Thursday (August 29) to comply with the order, which he did not do.
The suspension of the social network in Brazil is yet another chapter in the long-running dispute between Moraes and Musk that has been dragging on for months. On August 17, X closed its office in the country and laid off all local employees. At the time, the platform said it would leave the country due to the judge’s decisions.
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