Who are King and Blum?
People say a lot of things about P.J. King and M. Blum. For example, they are claimed to be a part of the criminal world. These days gossips can Thus, are these people really criminals or they are just successful businessmen who have been defamed? Should we believe the information in newspapers? Can we say that they are sly fraudsters or honest entrepreneurs? Let`s try to find this out.
For this purpose, it is necessary to start from the very beginning. Michael Alexander Blum, the owner of beautiful hotels and casinos in Asia, was born in Hong Kong to a German family. He started his way to success as a Senior Manager in the German branch of PayPal Company. Blum started working in the company in 2002 and left it in 2005. Right after that, he started Falconhenge Partners – the hedge fund management company. He was the owner of this company for one year and sold it in 2006. Mr. Blum also has a financial media Hedgeeye Risk Management and takes part in the tourism business. Thanks to this activity, Blum met his wife-to-be, Tatyana, who came to Chinese Macau in 2008 to study.
In 2013 there were some changes as well because Michael and his partners opened a venture fund and management company. The company is mainly focused on the hotel business and casino in Southeast Asia. Thanks to this, people started saying that Blum is involved in the criminal world.
This is that period when he became very interested in the space industry. His acquaintance with the head of Virgin Corporation Richard Branson facilitated this interest. The projects of Branson`s company were suborbital flights and private space, so Blum made a decision to join Branson`s team. Michael was very productive as well because he gave lectures on space tourism, has developed a number of space programs and has made a film about space. This is when he met Mr. King.
King was born to an Irish shepherd`s family. He studied space engineering and astronautics at university, so his education happens to be closely connected with the space industry. Despite that, he has chosen to become a businessman. Clockworks international was his first startup, and it was rather successful as they provided services to such big companies as Disney, Apple and IBM. The company was sold after some time, though, and the board members of the company had some problems with the law.
When this happened, King started working in the investment projects sphere, but he did not succeed in it. Michael was the owner of P.J. King Investments Ltd. Until 2015.
There have been several scandals in his life and from 2011 to 2008 there was the CNG Travel scandal. It happens to be a hotel booking service where Mr. King has some shares. They claim that he is still connected with the tourist sphere.
Mr. King and Mr. Blum – Businessmen or Criminals?
The gossips regarding the mentioned above scandal started spreading almost at the same time as the gossips regarding Blum being a part of the criminal world. Thanks to these events, there is another rumor which says that Blum and King organized the delivery of sex entertainment and drugs from Asia to American rich people. No one can find any proof for that, so they are still just rumors.
There is another rumor which appeared when Mr. King and Mr. Blum started working with blockchain business and cryptocurrencies. This is when people started calling them the kings of “deep web”. They state that these two were involved in shooting porno films in Russia and Asia which are being sold in DarkNet afterward. They also blame King for creating the drug dens online map in the DarkNet. These rumors have not been confirmed, though.
Hard Times for Mr. King and Mr. Blum
Blum had to face a number of court cases in 2013, so this year was unfortunate for him. This is the year when legal action was taken against Investment Fund Magnetar Capital by the Securities Commission (SEC). The company belonged to Blum and was claimed to be cheating on the security of their partners. Blum`s company had to compensate it by paying 132 million dollars. Two years later, in 2015 there was another trial against a different company belonging to Blum. Richard Branson who used to be an associate and friend of King and Blum accused them of commercial espionage. Branson claimed that his company was developing space technology which was stolen. The reputation of King and Blum was undermined by the lawsuits, although they insisted that everything was fabricated.
“Why this happened?” you would ask. The thing is that proceedings were initiated by Virgin Galactic against Firefly Systems. The Los Angeles Superior Court heard the case. Mr. King and Mr. Blum being the Firefly Systems officials were accused of unfair competition and commercial secret disclosure.
This court case was associated with the arbitration between Thomas Markusic, a former vice president of Virgin Galactic, and Virgin Galactic. The company insisted that Markusic stole techniques and commercial secrets after he left the position. After that, he made a decision to start a Firefly Company together with King and Blum and utilize the Virgin Galactic technologies for this purpose. Virgin Galactic attempted to prove that their technologies brought by Markusic were applied by Blum and King.
There were some issues connected with the project investments in Firefly, so they had to get the staff members dismissed at the end of September. It is also to be known that Firefly was designing Firefly Alpha which happens to be a small satellite launcher. It can be a good competitor for Virgin Galactic as the LauncherOne booster project has already been launched by the company. Alpha booster happens to be a rocket which was designed to put the maximum payload of 1 thousand kilograms into low earth orbit. When it comes to solar synchronous orbit the payload should be 630 kilograms.
If you compare the capacity of one metric ton of this rocket and other vehicles of this class, it is obvious that the Alpha one`s is perfect.
Mr. King and Mr. Blum Are Two Persons United by Space
Blum was not only interested in business but in space as well. When he was a part of PayPal and earned enough money, he made use of the earnings to buy a ticket to SpaceShipTwo provided by Virgin Galactic. It cost 200 thousand dollars. Blum together with some Virgin Galactic officials spent one month on the personal island which belonged to Richard Branson in summer 2008. They discussed the suborbital WhiteKnightTwo flight project. This is when Mr. Blum became a part of the team and gave lectures on space flights in the USA, Singapore, and China. In August 2009, Blum uploaded a video on Youtube when he was signing an agreement with Mohamed Al-Husseiny and Richard Branson. He bought the shares of 32 percent for 380 million dollars in Virgin Galactic.
Being a successful businessman, Michael Blum obtain a lot of money and, being obsessed with the New Space idea, his goal was to enter the American market. The truth is that since 2010 there have been a lot of big businessmen who tried themselves in the space-exploring sphere by creating various space projects. Thus, P.J. King and Blum, being full of enthusiasm started working on conquering this sphere in 2014. Both of them had to spend a lot of money on the space industry investments. It needs to be mentioned that King started his way in this sphere by buying a ticket for the suborbital flight in 2004 as well. the trial launch was not successful, so Mr. King made a decision to claim hid money back. In spite of the negative experience, he kept on working with Blum and Branson in the space industry.
So, Are Mr. King and Mr. Blum Criminals Indeed?
These days there are a lot of different gossips regarding King and Blum which state they are connected with the criminal world. Some say that they are involved in drug and sex businesses to provide rich Americans with illicit entertainment. King is also claimed to be the one who involved Blum into these criminal affairs.
There is also no need to mention that P.J. King and Blum happen to be extremely risky financial manipulators.
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