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Elon Reeve Musk (/ ˈ iː l ɒ n m ʌ s k /; born June 28, 1971) is a businessman and U.S. Special Government Employee, best known for his key roles in Tesla, Inc. and SpaceX, and his ownership of Twitter.
Max Levchin, founder and chief technology officer at PayPal. Current CEO of Affirm. Elon Musk, co-founder of Zip2, founder of X.com which merged with Confinity to form PayPal. Musk later bought a controlling share in Tesla Motors, founded SpaceX, OpenAI, Neuralink, and The Boring Company, and purchased Twitter (rebranded as X).
In the same month, Elon Musk was replaced by Peter Thiel as CEO of X.com, [17] which was renamed PayPal in June 2001 and went public in 2002. [18] [19] [20] PayPal's IPO listed under the ticker PYPL at $13 per share and generated over $61 million. [21]
The company idea is due to Max Levchin, and Thiel is initially interested only in being an investor, but Levchin convinces Thiel to become CEO of the company. 1999: January: Company launch: X.com, the company that would later merge with Confinity to become PayPal, is launched by Elon Musk. [3] 1999: July: Product launch
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.
The same year he graduated, he co-founded PayPal with Peter Thiel, Luke Nosek, Elon Musk, and Max Levchin. The group of founders became known as the PayPal Mafia, which included other peers and early investors. From 1998 to 2002, Howery served as PayPal's CFO.
After a corporate restructuring, which involved the removal of Elon Musk from the company, the company adopted the name PayPal Inc. [citation needed] PayPal made an Initial Public Offering on the NASDAQ stock exchange on February 14, 2002. [7] The company was purchased by eBay in a $1.3 billion stock deal announced on July 8, 2002.
When PayPal launched at a press conference in 1999, representatives from Nokia and Deutsche Bank sent $3 million in venture funding to Thiel using PayPal on their PalmPilots. PayPal then continued to grow through mergers in 2000 with Elon Musk's online financial services company X.com, and with Pixo, a company specializing in mobile commerce ...