Many people have thought it would be the EU to issue an international arrest warrant for Elon Musk. It looks like Brazil is likely to beat them to it. As a first step, a judge has frozen Elon's Starlink financial assets in the country to ensure that Musk pays his Twitter fines for failing to cooperate with the government on criminal investigations. Twitter will shortly be shut down in the country. Of course, Elon is whining about all of this -- but it should provide a lesson to him. Especially with the EU lining up next to take criminal action against Musk. Elon Musk slammed a Brazilian judge as 'an outright criminal' after Starlink's financial assets were blocked Brazil's Supreme Court has ordered Musk's X to name a legal representative or be suspended https://qz.com/elon-musk-brazil-starlink-financial-assets-blocked-feud-1851636115
The social network X was banned in Brazil after Elon Musk refused a judge’s orders to suspend certain accounts. In an unusual move, a Brazilian Supreme Court justice also froze the finances of another Musk business in Brazil, SpaceX's Starlink satellite-internet service, to try to collect fines he has levied against X. Friday, August 30, 2024 4:29 PM ET https://www.nytimes.com/2024/08/30/world/americas/brazil-elon-musk-x-blocked.html
The only question is if Brazil or the EU issue an arrest warrant for Elon Musk first. It appears that that Brazil is in the lead -- especially with Elon doing everything possible to antagonize the judge on the case. Soon Elon will only be able to fly to countries that support his values -- like Russia. Elon Musk hints he may limit his international travel https://www.newsnationnow.com/business/tech/elon-musk-hints-limit-travel/ Musk’s comment comes after the arrest of Telegram CEO in France Since buying Twitter, renaming it X, Musk has reduced content moderation Musk faces possible X ban in Brazil (More at above url)
Let's check-in and see how Musk's Brazilian adventure is going. This might be a good time to mention that Brazil was one of the largest markets for X/Twitter before it was shut down. The clown thinks he has the power to seize Brazilian government assets. LOL Elon Musk Says Brazilian Government Assets Can Be Seized After X, SpaceX Property Confiscated: 'Hope Lula Enjoys Flying Commercial' https://www.benzinga.com/news/24/09...d-after-x-spacex-property-confiscated-hope-lu The Brazilian President makes his position clear on right-wing oligarchs. Brazil’s president says Elon Musk’s wealth doesn’t mean world has to accept his ‘far-right ideology’ https://fortune.com/2024/09/03/brazil-leader-elon-musk-oblige-rich-x-ban/ Looks like Starlink will be sanctioned and shut down in Brazil as well. As Elon Musk's battle with the Brazilian government intensifies, another of his companies is facing trouble https://www.businessinsider.com/brazil-starlink-sanctions-amid-feud-elon-musk-x-2024-9
Let's hear what Musk's investors in X/Twitter have to say... X Investor Torches Elon Musk for Mindblowing “Destruction” of X Value The investor said he now considers his stake in X (formerly Twitter) worthless. https://newrepublic.com/post/185541/x-elon-musk-failure-platform-value The value of X, formerly known as Twitter, has tanked since Elon Musk’s 2022 takeover—and investors are not happy. The billionaire purchased the social media behemoth for $44 billion, with the help of massive bank loans. But after Musk introduced his radical changes to the site—which included laying off 75 percent of its employees, crippling the site’s verification system, and changing the algorithm to promote more advertisements, irrelevant content, and antisemitism—interest in the company has plummeted. In the CEO’s own words, the company has lost 90 percent of its value since Musk bought it out. “Elon’s done a tremendous amount of wealth destruction since he’s purchased Twitter,” longtime Tesla bull Ross Gerber told The Washington Post. Gerber reportedly has invested less than $1 million in the company but now considers the stake worthless. “For the people who put capital into [Elon] for any amount,” Gerber told the Post, “trying to explain to people how he lost” so much money “is not a fun conversation.” Gerber has also given Musk a six-month deadline to fix Tesla’s stock performance, or else he intends to exit his position. Gerber told Business Insider Sunday that he receives daily calls from clients asking him to pull out from the electric vehicle company, in which he holds $60 million shares, citing Musk’s erratic behavior on social media. Jack Dorsey, Twitter’s founder, remains one of the platform’s largest investors. But even Dorsey has lost an estimated $720 million, according to the Post. Last year, Dorsey posted on the Twitter competitor BlueSky that he didn’t believe Musk should have purchased the site. “It all went south,” Dorsey said, referring to the acquisition. But not all of Musk’s investors are upset. Saudi Prince Alwaleed bin Talal, who has invested the most in X after Musk himself, with nearly $2 billion rolled into the company, told the Post that he’s still very happy with his investment and felt that there was “no devaluation whatsoever.” “When you evaluate X, you have to evaluate their ownership in xAI of 25 percent,” Alwaleed said, noting that a renewed focus for the company needs to involve bringing back major advertisers to the platform. “Clearly, the game right now is monetization, having advertisers coming to X.” Unfortunately for Alwaleed, advertisers have made it clear that they can’t exit the platform fast enough. In response, Musk sued a group of advertisers last month to essentially bully them back onto X, a surefire way to make business connections.
I can’t imagine any investor put money into twitter expecting a positive financial return. the only two rational motivations: encourage musk to create havoc and spread disinformation on American politics. second to get preferential allocations on other musk endeavors like spacex
The remaining advertisers are heading for the exits. They can no longer put up with X/Twitter undermining their brands. Advertisers plan to withdraw from X in record numbers https://www.cnn.com/2024/09/05/business/advertisers-x-withdrawal/index.html