Elon Musk's early businesses moved from web software to online payments. This chronology follows Zip2, the X.com and Confinity merger, a leadership change and eBay's acquisition of PayPal.
This historical chapter ends with eBay's completed acquisition of PayPal on 3 October 2002. The purchase was a company transaction, not a statement of Musk's personal proceeds.
9 events shown
PayPal's filing dates Elon Musk's co-founding of Zip2 to 1995. Tesla's later board biography also identifies Kimbal Musk as a Zip2 co-founder.
PayPal's management biography dates Musk's founding of X.com to March 1999.
Compaq records the acquisition in April 1999. Its filing separates USD 307 million in cash from the USD 341 million aggregate purchase price, which also included options and other costs.
X.com merged with Confinity, developer of PayPal. The later management biographies identify Peter Thiel as Confinity's co-founder and former chief executive, and Max Levchin as its co-founder and chief technology officer.
The later separation agreement records Musk's resignation as chief executive and president effective 24 September 2000. It does not establish a misconduct finding.
The company formally changed its name from X.com to PayPal in February 2001.
PayPal records completion of its IPO on 21 February, with approximately USD 70.6 million in net proceeds. This is the closing date, not the first trading day.
eBay and PayPal announced a share-exchange agreement, subject to approvals. They valued it at approximately USD 1.5 billion using eBay's 5 July closing share price.
eBay announced completion of the acquisition. PayPal chief executive Peter Thiel resigned, and eBay executive Matt Bannick took over responsibility for PayPal.
Coverage through 3 October 2002. Editorial review: 3 November 2026. Spotted an error? See corrections. Copyright concerns: report an asset. Every event links to its sources. Source type does not establish whether a claim is true.