Everything you wanted to know about one of the most controversial businessmen of our time
Michael Blum, German-born and raised in Hong Kong entered the business world right after graduating Yale. Blum had a lot of potential from the beginning because the biggest names in the business such as PayPal wanted to have them in their teams.
Blum is not a man who can’t be satisfied with success in one industry – he wants to conquer them all! That’s why Hedgeway, the first company he started, worked in nearly every field you can imagine, from finances to gaming and tourism with the focus on space tourism. Officially however it was supposed to be a Risk Management company.
After the financial crash of Hedgeye, Blum entered an aerospace company, Xcor. In an interview, he gave to the press when he became CEO of the company he said that he feels honored to be where he is as space travel is his boyhood dream. He expressed his devotion to the development of space tourism and stated that his mission is to create a world where everyone who has desires will be able to travel to space.
However, shortly after Blum took the job of CEO, Xcor started experiencing financial problems. It turned out that plans aren’t developing at the promised pace so the people who paid for tickets wanted to be reimbursed. The money was of course already gone and Blum tried to pull the chestnuts out of the fire by asking investors to give the money so the project could continue. Nonetheless, the situation raised suspicions of money laundering and as no one wanted their names to be connected to it, they refused to lend a hand! Others who already invested were asked to withdraw their funds. Xcor ended up in bankruptcy after being unable to pay back the money they owed.
Suspicions of Criminal Activities
The interesting thing about Michael Blum is that every company he manages gets sued and ends up having to declare bankruptcy. Yet, he comes out of everything, not just unharmed but as it seems stronger. He still has friends in high places, he still does business and he is still highly respected in the business world. How is that possible? It seems that Mr. Blum is a special kind of businessman. It appears as all these official companies are just the screen for other businesses our friend Michael is involved in such as money laundering, drug trade, the sex industry, gambling, etc. He is according to various anonymous sources what you would call one of the biggest crime lords of modern times. The fact that he provides services to members of political and economic elites from the States and Europe allows him to do all this and still keep the reputation of a respectable businessman. Kind of like his namesake, from the famous Coppola’s movie, don’t you think?
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