Hedge fund billionaire Bill Ackman is among the latest critics of a court order to suspend Elon Musk's social media platform x in Brazil. The ruling will likely drive away investors and hurt the country, he said in a statement. x.com/BillAckman/status/1830064342340956358″ target=”_blank”>an online publication.
Supreme Court Judge Alexandre de Moraes on Friday ordered internet service providers in Brazil to block people from accessing x. The order was in response to x's refusal to appoint a legal representative in the country to handle requests to remove accounts that allegedly spread political disinformation.
The judge also ordered banks to freeze funds held by Starlink, another Musk-owned business, as collateral for fines imposed on x for failing to comply with court rulings.
“x’s illegal shutdown and account freeze at Starlink put Brazil on a fast track to becoming an uninvestable market,” Ackman, a director at Pershing Square Capital Management, said in a post on x on Saturday evening. “China committed similar acts that led to capital flight and collapsing valuations. The same will happen to Brazil unless it quickly retracts these illegal acts.”
