Meet Elon Musk - A Living Legend

Foundation of PayPal

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Paypal is an online payment system that allows users send and receive money without needing a bank account or credit card just with an e-mail address. Paypal is currently owned by eBay. Elon Musk is one of the founders of Paypal. He first founded X.com. Then X.com had merged another online payment company Confinity. These two merging companies prefer X.com as their name, but after a while, they changed their name as Paypal. After that, Paypal has grown so fast. This accelerated growth was on the account of the campaigns of advertisement and presentations carried out on the internet by Elon Musk. At 2002, Paypal was purchased by eBay for approximately 1.5 Billion Dollars. Elon Musk was the biggest shareholder with amount of 12%i at the time of purchase. This means that Musk got about 160-170 million of dollars from this purchase. These million dollars will be resources of the Elon Musk’s next projects. By the way, current market value of Paypal is over 50 Billion right now.

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