How did Elon Musk join PayPal?

How did Elon Musk join PayPal?

In 1999, Elon and Kimbal Musk used the money from their sale of Zip2 to found X.com, an online financial services/payments company. An X.com acquisition the following year led to the creation of PayPal as it is known today. Before the sale, Musk owned 11 percent of PayPal stock.

What did Elon Musk do for PayPal?

How did Elon Musk become famous? Elon Musk cofounded the electronic payment firm PayPal and founded the spacecraft company SpaceX. He became chief executive officer of the electric-car maker Tesla.

How much money did Elon Musk make selling PayPal?

Musk made $165 million when PayPal was sold to eBay in 2002. He was first listed on the Forbes Billionaires List in 2012, with a net worth of $2 billion. At the start of 2020, Musk had a net worth of $27 billion.

Is Elon Musk still involved with PayPal?

Elon Musk founded a payments company called X.com, which merged with Thiel’s Confinity in 2000. Musk was ousted from his role as PayPal CEO that same year. But as the company’s largest shareholder, he still walked away from the PayPal sale to eBay with a cool $165 million.

Who was PayPal sold to?

eBay
After watching PayPal become the premier choice of Internet auction shoppers, online marketplace giant eBay acquired PayPal for $1.5 billion in October 2002.

Why did Elon Musk get fired from PayPal?

Max Levchin, the co-founder, and Peter Thiel, an early investor, fired Musk from his CEO role in 2000 due to many disagreements over branding and micro-managing. Because he had so much skin in the game, Elon kept his equity in the company, and became even richer when Paypal went public at a $1.5 billion valuation in 2002.

What is the relationship between Elon Musk and Peter Thiel?

Billionaires Peter Thiel and Elon Musk have a long history dating back to their PayPal days. How did these two innovators cross paths and where has their work taken them since then? How did Peter Thiel and Elon Musk meet?

What company did Elon Musk co-found with his brother?

Elon Musk co-founded a similar company, X.com, with his brother in 1999, which merged in 2000 with Confinity to become PayPal. What were their roles at PayPal?

How did Elon Musk make his $165 million?

Elon Musk in 1999. Musk was ousted from his role as PayPal CEO that same year. But as the company’s largest shareholder, he still walked away from the PayPal sale to eBay with a cool $165 million.