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In March 1999, Musk co-founded X.com, a financial company that offers online payment services, with a $10 million stake in the sale of Zip2.
One year after the founding, the company merged with Confinity, which already had a service. Money transfer called PayPal. After the merger, the company focused on this service, until the company was renamed PayPal in 2001. The announcement of the new company was accompanied by a large viral marketing campaign, so that the company succeeded in winning many new customers.
In October 2000, the Board of Directors relieved Musk of his position as CEO of the company (while remaining on him as a member of the Board of Directors) as a result of his many differences with the company's board of directors, perhaps the most important of which is his desire to transfer the company's system from Unix to Microsoft Windows. In October 2002, eBay bought PayPal for $1.5 billion. Musk's share in selling the company amounted to $165 million, as a result of being the majority shareholder in PayPal, with shares amounting to 11.7% of the company's shares.
In July 2017, Musk purchased the X.com domain from PayPal for an undisclosed sum. Musk justified the deal because the domain had great sentimental value to him.
In 2001, Musk launched the term "Mars Oases", a project aimed at building ...... Continue reading about Spae X
