Discover if P.J. King and Mr.Blum are Successful Businessmen or Cheaters
There is hardly a person who has never heard about Michael Blum and Mr. King. Still, the reputation of these people is quite dubious and even scandalous. However, is such an accepted image truthful or it is just an attempt of mass media to present them in a bad light? It is well known that forming a negative or a positive image is not a big challenge for mass media in conditions of powerful digitalization of the world. So, don’t jump to conclusions and discover the truth about Mr. Blum and Mr. King.
Let’s start with Michael Alexander Blum. He was born in Hong Kong in the family of Germans and is known as the owner of VIP hotels and casinos located in Asia. Mr. Blum worked in the German branch of PayPal on the position of a Senior Manager in the period from 2002 to 2005. Later, he founded the hedge fund management company called Falcon Henge Partners but sold it the next year, in 2006. In addition, Blum ran financial media Hedgeye Risk Management and the company that organized the yacht cruises. Soon he met his future wife Tatyana. She came from Khabarovsk in 2008 and studied in Chinese Macau. In 2013, he became a co-founder of a venture fund and management company involved in hotel and casino fields. Due to the main focus on the gambling business, Blum was considered to be engaged in criminal affairs.
However, these areas were not the only interest of Mr. Blum. Soon he started to learn more about the space industry and after getting acquainted with the owner of Virgin Corporation Richard Branson, Blum becomes a part of his team. By the way, it worked on private space as well as suborbital flights. As a result, Blum successfully created a few space programs, produced a film on this theme and even gave some lectures on space tourism. Exactly at that time, he met Mr. King.
King came from Ireland and was born in a shepherd’s family. Despite studying space engineering and astronautics, his big dream was running own business. Soon, he founded a startup called Clockworks International. Actually, it was quite successful and could boast cooperation with such popular brands as Disney, Apple, and IBM. In the long run, King sold his startup, some employees of which were later imprisoned due to accusations in financial fraud.
Then he was connected with investment projects. Unfortunately, the results were not very good for the teams which he worked with. King was the head of the investment fund P.J. King Investments Ltd. Until 2015. One more bad case he experienced from 2001 to 2008 was a scandal with an electronic hotel reservation service called CNG Travel. Still, he continued to work in the tourism business.
Mr. M. Blum and Mr. King, Who Are You?
There are plenty of gossips around the personalities of Mr.King and Mr.Blum. Everything started at the time when King was involved in affairs with CNG Travel and Blum in the gambling business. As a result, the rumors stated that both of them are involved in criminal affairs. Actually, they state that men delivered banned entertainment and drugs to America for rich people from Asia. Anyway, there was no official confirmation of this issue.
At the time when both men dealt with cryptocurrencies and were involved in blockchain business, a new wave of gossip occurred. The lords of “deep web” were their nicknames. In addition, Mr.Blum was accused of creating porno films which, if believe rumors, he shot in Russia and Asia and then sold in DarkNet. King didn’t stay apart and was accused of creating a virtual map of US crack dens. Pay attention, this gossip wasn’t confirmed as well.
Bad Luck of Mr. King and Mr. Blum
2013 turned out a real disaster for Mr.Blum. That year he had to go through plenty of lawsuits.
Everything started with accusing Blum’s Investment Fund Magnetar Capital in cheating Securities Commission partners. As a result, his company had to pay $132 million of compensation. In 2015, another case spoiled the reputation of Mr. Blum and one of his firms. The subject was a dishonest competition and as a result, multimillion-dollar lawsuits. Richard Branson who was his friend and collaborator in the past became a sworn enemy. He accused P.J. King and M. Blum in commercial espionage and theft in space projects. All in all, their reputation was completely destroyed. Blum didn’t stop to repeat that all those lawsuits were fabricated. What was the outcome? In 2016, Mr. Blum and Mr. King as the officers of Firefly Systems were accused of unfair competition as well as trade secrets disclosure.
The subject was confidential information that the former vice president of Virgin Galactic, Thomas Markusic took after leaving the company. Virgin Galactic suggested he used it when established Firefly Systems with Mr. King and Mr. Blum in 2013.
The plaintiff stated that men used confidential data provided Markusic to start their project. Anyway, Markusic denied all these claims. Firefly continued to experience bad times and at the end of September, had to dismiss some employees due to problems with investing.
Firefly was involved in the development of a small satellite launcher called Firefly Alpha. That’s why it could become a real rival for Virgin Galactic that worked at LauncherOne booster design.
The Alpha launch vehicle was aimed to put up 630 kilos of payload per solar synchronous orbit along with 1000 kilos of payload into low earth orbit. In fact, the sun-synchronous orbit is known to be a weak point for small observatories as is not provided with special launches.
Potential customers believe that the capacity of Alpha of one metric ton is a golden mean in terms of all vehicles of this class. Due to payload capacity, Alpha can easily deploy several small satellite groupings each of which weighs up to 125 kg.
Addiction of Mr. Blum and Mr. King to Space
As it has been stated earlier, Blum was not indifferent to space. He made money while working at PayPal which he used for purchasing a ticket to SpaceShipTwo from Virgin at price $200,000. In 2008, he spent one summer month on the personal island of Richard Branson with the representatives of Virgin Galactic. They discussed further plans connected with a suborbital WhiteKnightTwo flight. At the same time, Blum also gave lectures in China, America, and Singapore, discussing space topics with the students. In 2009, he spent $380m to attain 32% of shares in Virgin Galactic. A video of the contract signing ceremony was published by him on YouTube channel.
Despite having enough money to live and enjoy life, Mr. Blum was dreaming to conquer the American market. Starting in 2010, its main trend was New Space. At that time, many people created own space projects as wanted to repeat the success of Elon Musk. Mr. Blum was not an exception as well.
In 2014, Blum and P.J. King set for conquering the area of space startups, investing hundreds of millions of dollars in this industry. It should be mentioned, both of them were enthusiastic and passionate about it.
Blum’s business partner Mr. King also started the way into space business with buying a ticket for the flight on spacecraft in 2004. He demanded his money back because of the unsuccessful test launch of SpaceShipTwo. Nevertheless, Mr. King went on cooperating with Blum and Branson in the space industry.
Mr. Blum and Mr. King: Wrapping-up
If believe rumors, both King and Blum were involved in some criminal affairs connected with providing forbidden entertainment and running sex business. Actually, nothing from this was officially confirmed. As practice shows, people are sure that rich men always have some problems with the law.
You should study the biographies thoroughly to understand their personalities better. In fact, none of them can be called a criminal. Of course, they saw bad times and experienced some problems in their careers but as a rule, all people who are involved in the investment business, also have them. It goes without saying, P.J. King and M.Blum can be referred to as financial manipulators but they can be hardly considered as vile cheaters. They look like quite intelligent and rich to run indecent business. Mr. King and Mr.Blum demonstrated excellent skills in making money and it seems they can get profit from everything.
All in all, they can boast a strong reputation in American business circles. As a result, attracting investments in their projects is not a very big deal for them.