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Elon Musk made $175.8 million when PayPal was sold to eBay in October 2002. [9] He was first listed on the Forbes Billionaires List in 2012, with a net worth of $2 billion. [4] Musk paid $455 million in taxes on $1.52 billion of income between 2014 and 2018. [10] According to ProPublica, Musk paid no federal income taxes in 2018. [11]
The new company took PayPal's name. [13] Musk was its biggest shareholder and was appointed as its CEO. Started in 1998, PayPal enabled users with PalmPilots to send money to each other through the devices' infrared ports. [14] [15] Subsequently, PayPal developed to allow users to send money using email and the web. [15]
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]
How did Elon Musk start making money? Elon Musk began building his fortune by starting the company Zip2. The company was acquired by Compaq in 1999 for $307 million, of which a 27-year-old Musk ...
Elon Musk made his money differently than most of today’s famous billionaires. Here's how he did it
PayPal competes fiercely with Billpoint, raises a large amount of money, and IPOs in February 2002. October 2002 – mid-2010: 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
Elon Musk -- still the world's richest man, with a $243 billion net worth as of July 10, according to the Bloomberg Billionaires Index -- is at the helm of several companies. From Tesla to SpaceX ...
After being ousted as the CEO of PayPal in late 2000, Elon Musk started to gain an interest in space exploration ventures. This spark of interest, according to Musk, came when he is being asked by his friend entrepreneur Adeo Ressi about his plan for the future after PayPal.