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PayPal is acquired by eBay for $1.5 billion in eBay stock. The product and userbase grow steadily, faster than the parent company eBay. mid-2010 – September 2014: PayPal moves aggressively into new territory, including micropayments, mobile payments, in-store payments, international expansion, and more tools for small and medium businesses ...
A month later, Musk invested about $12 million into co-founding X.com in March 1999 with Harris Fricker, Christopher Payne, and Ed Ho. [5] [6] Fricker worked with Musk when Musk was an intern at the Bank of Nova Scotia, Payne was a friend of Fricker, and Ho was an engineer at Silicon Graphics and executive at Zip2. [7]
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. [75] [76] In 2017, more than 15 years later, Musk purchased the X.com domain from PayPal for its "sentimental value". [77] [78] In 2022, Musk discussed a goal of creating "X, the everything ...
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.
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 ...
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
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]
eBay, PayPal, Kijiji and StubHub, 500 King Street West, Toronto, April 2014. PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers; it serves as an electronic alternative to traditional paper methods such as checks and money orders.