Elon Musk's Brazil Standoff For X Could Impact Tesla, SpaceX And Other Ventures, Warns Expert
- by Benzinga.com
- Sep 04, 2024
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Benzinga Neuro, Benzinga Staff Writer
September 4, 2024 9:49 AM
| 2 min read See Also: T-Mobile Customers Will Get Starlink Satellite Internet Directly On Their Mobiles First And Others Only Later, Says SpaceX CEO Elon Musk
Despite these challenges, investors seem to remain patient, giving Musk “a lot of rope” to manage his affairs with X, as they see great potential and returns in Tesla and SpaceX.
Why It Matters: Earlier, Musk had threatened to seize Brazilian government assets unless property belonging to his companies X and SpaceX was returned. This was in response to the confiscation of SpaceX and X’s properties by the Brazilian government.
Subsequently, Musk’s satellite broadband company, Starlink, decided to comply with a Brazilian court order to block access to social media platform X in Brazil, reversing its previous stance. This move, while in compliance with the court order, has led to a halt in Starlink’s operations in the country, impacting revenue generation.
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