Bill Ackman Says X Ban Will Make Brazil an ‘Uninvestable Market’
SUMMARY
Hedge fund billionaire Bill Ackman warned that Brazil risks becoming an "uninvestable market" following a court order to block access to Elon Musk’s X platform. Ackman criticized the ruling, made by Supreme Court Justice Alexandre de Moraes, for its potential to drive away investors. In a post on X, Ackman stated, “The illegal shutdown of X and account freeze at Starlink put Brazil on a rapid path to becoming an uninvestable market.” He drew parallels with China’s similar actions that led to capital flight and collapsing valuations, urging Brazil to reverse these "illegal acts." The rogue court’s decision followed X's alleged refusal to appoint a legal representative in Brazil, prompting internet providers to block the platform. Over the weekend, major internet providers in Brazil complied with the drastic order, driving users to platforms like Bluesky, which saw a surge of one million new users.
