Are P.J. King and Michael Blum sly scammers or innocent victims of gossips?
Our King and Blum Honest Businessmen?
People say different things about P.J. King and M. Blum. There are some who are sure that they are kings of the porn industry and DarkNet. At the same time, there are people who suppose that these images were created by the media. So, which is true? Should we trust things they say? In this article, we will try to figure out what to believe. To have a full picture, it is always better, to begin with, the early years.
Michael Blum is a German who was born in Hong Kong. He went to Yale University to study economics and foreign affairs. When he graduated from university, he worked for lots of different companies the most famous among of which are PayPal, Ernst & Young, Virgin Galactic, Vision Inc and etc. When working for PayPal, Blum managed to earn a lot of money. The amount was enough to buy a SpaceShipTwo ticket from Virgin Galactic. He had to pay for it 200,000 dollars. when he left PayPal, Michael worked on a number of business projects. Although some of them were not successful, Blum managed to keep his reputation good. It was not hard for him to change one managerial position for another.
In 2005 the businessman became a co-founder of Falconhenge Partners, the hedge fund management company. It was then sold with a great profit. From 2006 to 2008 Blum and his brother worked on a new business project in China. This way he started dealing with hotel business and gambling.
In 2013 there were also some changes in the businessman`s life. Together with his business partners, Blum started a company the major specialization of which was hotel business and casinos in Southeast Asia. This is when people started gossiping that Michael is involved in the criminal world.
This is also when M. Blum met R. Branson who happens to be the head of Virgin Corporation. The company was engaged in the projects connected with suborbital flights and private space. This is how he got interested in the space industry and became a part of Branson`s team very soon. Blum took part in the process very actively as he gave several lectures on space topics and created space programs. In addition to that, Blum created a film on space. This is also that period when Blum met Mr. King.
King is an Irish who was born in the family of a shepherd. Unlike Blum, he received a bachelor`s degree in astronautics and space engineering. He did not want to become a scientist, though. Finally, he made a decision to start his own company – Clockworks International. It was an outsourcing company that was extremely successful and had very famous clients such as Symantec, Apple, Disney, and IBM. The company`s area of work changed over time as they entered the market of the USA with IT products. Despite that, the company was sold very soon after that. Things went wrong and some board members were in trouble with the law.
After that, King decided to turn his activity to the investment projects which were not beneficial for the companies he was working with. King also headed the investment fund named P.J. King Investments Ltd until 2015.
Two Businessmen Who Are in Love With Space
Everybody knows that Blum is passionate about space. As mentioned above, he even purchased a ticket to SpaceShipTwo. He had to pay a significant amount of money but never hesitated. In 2008, Michael Blum and several other people from Branson`s team spent one month on Richard Branson`s private island. They were all busy with discussing suborbital WhiteKnightTwo flight. Blum, being a part of the team, gave several lectures on the space flight topic in the USA, Singapore, and China. In August 2009, Michael signed the agreement with Mohamed Al-Husseiny and Richard Branson. It was on acquiring 32 percent of Virgin Galactic shares which cost him 380 million dollars. He even uploaded the video with this process on Youtube.
Being extremely interested in space, Blum decided to go even further by conquering the market of the USA. The thing is that the idea of New Space was very popular on the market at that time. There were many reputable businessmen who tried themselves in the space industry by developing new projects.
Thus, Blum inspired King to make their way together to succeed in the space industry in 2014. Both of them put a huge amount of money into this but it was definitely worth it.
It is to be known that the journey to stars of King was also started when he purchased his ticket for the VSS Enterprise / SpaceShipTwo spaceship suborbital flight in 2004. When the trial launch turned out to be a failure, Mr. King asked for his money back. In spite of that, he kept on working with Blum and Branson in this sphere.
Hardships Blum and King Had to Face
The scandal concerning CNG Travel took place in 2001-2008, and King was at the center of it. Being an electronic hotel booking resource, the company was bought by an investor and P.J. King obtained a part of the shares. It is interesting that the scandal with CNG Travel and King coincided with the involvement of Blum in the hotel and gambling business in Macau. Rumors regarding sex business were triggered thanks to these events. Both of the businessmen were claimed to provide the American moneybags with entertainment from Asia which is not legal. Despite that, there is nothing to confirm these gossips.
A new wave of rumors appeared when King and Blum began working with blockchain and cryptocurrencies. They are known now as the “deep web” kings. They accused Blum of shooting porno films in Russia and Asia which are presumably sold in DarkNet. They also believe that King is connected with DarkNet as well, but he is claimed to have developed the online map of crack dens in the USA. Currently, these gossips have no confirmation as well.
Michael Blum had to deal with several lawsuits in 2013. That year there was a lawsuit filed by the Securities Commission (SEC) against Investment Fund Magnetar Capital owned by Blum. The businessman was blamed for fraudulent activity in terms of the securities of partners. As a result, Blum had to pay 132 million dollars which was compensation. Two years later there was another lawsuit against a different company owned by Blum. This is when both King and Blum were accused of commercial espionage by Richard Branson. He claimed that the two businessmen had stolen Virgin Galactic Company’s technologies while they denied it stating that everything was fabricated.
Legal action was taken by Virgin Galactic against Firefly Systems in 2016. King and Blum were a part of the trial as they happen to be the officials of Firefly Systems. They accused them of unfair competition and that they disclosed business secrets.
Another person who was involved in the trial was Thomas Markusic. He used to be a vice president of the Virgin Galactic. The former vice president was accused of stealing commercial secrets and techniques after he stopped working for the company. As a matter of fact, Markusic started working with King and Blum three years before that – in 2013. Together, they founded the Firefly Company, so Branson believed that they applied Virgin Galactic technologies for their projects. It needs to be mentioned that Firefly Alpha happens to be one of the company`s projects. It is a small satellite launcher. Thus, it can be concluded that Virgin Galactic was afraid of facing a strong competitor – Firefly.
According to all the rumors and gossips, Michael Blum and King happen to be tough criminals. They state that they are involved in the drug and porno business, so they offer rich people illegal things. But is this true? Is it possible for two successful businessmen who obtain huge money to be involved in illegal affairs? We can say that it is hardly possible. In addition to that, there are no facts to prove that so far. People love to think that rich people are criminals, so this is how rumors appear.
When studying the biographies of these two businessmen, it is obvious that these gossips are just gossips. There are a lot of ventures, court trials, and scandals, but almost every prosperous businessman had to face them at least once. Business is always connected with risks.
It is hardly believable that P.J. King and Blum can be the kings of the criminal world. although they are adventurous, they must be smart enough not to get into illegal things. At the same time, they are professional enough to earn money easily. This can be provided by their space projects.
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