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X.com was an American online bank founded by Ed Ho, Harris Fricker, Elon Musk, and Christopher Payne in 1999 in Palo Alto, California.It merged with competitor Confinity in 2000 and the merged company changed its name to PayPal in 2001.
Elon Musk made $175.8 million when PayPal was sold to eBay in October 2002. [5] He was first listed on the Forbes Billionaires List in 2012, with a net worth of $2 billion. [6] Musk paid $455 million in taxes on $1.52 billion of income between 2014 and 2018. [7] According to ProPublica, Musk paid no federal income taxes in 2018. [8]
PayPal unveils PayPal Here, its new global payment platform for small and medium-sized businesses, with a swipe-free option for customers, developed in collaboration with card.io. [42] [43] 2012: April 4: Product: PayPal rebrands its services for small businesses as PayPal Payments and debuts a number of online, offline, and mobile payment ...
PayPal joined the cryptocurrency market in 2020, allowing customers to buy, sell and hold bitcoin and other virtual coins using the digital payments company's online wallets.
Elon Musk bought $1.5 billion worth of the cryptocurrency in 2021 using the electric car maker’s cash reserves Tesla moves $765 million of bitcoin to mystery wallet Skip to main content
Instead of walking out, he opted to stay on with the company in a senior role, until selling PayPal to eBay for $1.5 billion in 2002. As the largest PayPal shareholder, Musk walked away with $180 ...
In 2002, PayPal was acquired by eBay for $1.5 billion in stock, of which Musk—PayPal's largest shareholder with 11.7% of shares—received $176 million. [76] [77] In 2017, more than 15 years later, Musk purchased the X.com domain from PayPal for its "sentimental value". [78] [79] In 2022, Musk discussed a goal of creating "X, the everything ...
After selling Zip2, Musk invested in several young software and technology companies. Musk was an early investor in his brother's venture X.com, an online financial services and email payments company. X.com merged with PayPal, which in October 2002 was acquired by eBay for $1.5 billion in stock. [23]