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That same year, Musk co-founded X.com, a direct bank. X.com merged with Confinity in 2000 to form PayPal. In 2002, Musk acquired United States citizenship, and that October eBay acquired PayPal for $1.5 billion. Using $100 million of the money he made from the sale of PayPal, Musk founded SpaceX, a spaceflight services company, in 2002.
PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the ... Elon Musk, co-founder of X.com, which ...
Peter Andreas Thiel (/ t iː l /; born 11 October 1967) is an American entrepreneur, venture capitalist, and political activist. [1] [2] [3] A co-founder of PayPal, Palantir Technologies, and Founders Fund, he was the first outside investor in Facebook.
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]
A 2009 lawsuit settlement with Eberhard designated Musk as a Tesla co-founder, along with Tarpenning and two others. [76] [77] As of 2019, Musk was the longest-tenured CEO of any automotive manufacturer globally. [78] In 2021, Musk nominally changed his title to "Technoking" while retaining his position as CEO. [79]
That same year, Musk co-founded X.com, a direct bank. X.com merged with Confinity in 2000 to form PayPal. In 2002, Musk acquired United States citizenship, and that October eBay acquired PayPal for $1.5 billion. Using $100 million of the money he made from the sale of PayPal, Musk founded SpaceX, a spaceflight services company, in 2002.
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.
The name "X" dates back to X.com, an online bank co-founded by Musk in 1999. In March 2000, X.com merged with competitor Confinity to create PayPal. [13] Musk considered forming a holding company named "X" for Tesla, Inc. and SpaceX in August 2012. [14] In July 2017, Musk reacquired the domain X.com, for an undisclosed amount, from PayPal. [15]