Hedge fund billionaire Bill Ackman is among the latest critics of a court order to suspend Elon Musk’s social media platform X in Brazil, a ruling that is likely to scare away investors and hurt the country, he said in a statement. online post.

Supreme Court Justice Alexandre de Moraes on Friday ordered internet service providers in Brazil to prevent people from accessing X. The order was in response to X’s refusal to provide the name of a legal representative in the country who would handle requests to take down accounts that allegedly spread political disinformation.

The judge also ordered banks to freeze funds held by Starlink, another company owned by Musk, as security for fines imposed on X for failing to comply with court orders.

“The illegal shutdown of X and the freezing of Starlink accounts quickly put Brazil on a path to becoming an uninvestable market,” Ackman, head of Pershing Square Capital Management, said in a post on X on Saturday evening. “China has committed similar acts that have led to capital flight and a collapse in valuations. The same will happen to Brazil if it does not quickly reverse these illegal actions.”