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That same year, Musk co-founded X.com, a direct bank, that later formed PayPal. In 2002, Musk acquired United States citizenship, and eBay acquired PayPal. Using the money he made from the sale, Musk founded SpaceX, a spaceflight services company, in 2002. In 2004, Musk was an early investor in electric vehicle manufacturer Tesla Motors, Inc ...
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.
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. [26] [27] In 2017, more than 15 years later, Musk purchased the X.com domain from PayPal for its "sentimental value". [28] [29] In 2022, Musk discussed a goal of creating "X, the everything ...
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 ...
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.
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 ...
Selby says that Soni spent five years interviewing people close to PayPal and that it is “very true” (Elon “definitely sat with Jimmy probably more than any of us,” Selby added).
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]