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Elon Musk buys back X.com from PayPal, has no immediate plans for it

Tesla CEO Elon Musk might be busy ramping up production of the recently launched Model 3, but that has not stopped the entrepreneur from going on a little nostalgia trip by buying X.com, a domain he owned back in 1999.

X.com was an online financial services company founded by Musk, which later merged with Confinity, which was co-founded by Peter Thiel and Max Levchin. The combined company kept the X.com name for a while, but it was rebranded as PayPal in 2001. eBay acquired PayPal in 2002 for $1.5 billion in stock, of which Musk received $165 million.

Amanda Miller, Director of Corporate Communications at PayPal, has confirmed the sale of the domain. “We are delighted to sell the domain x.com back to its previous owner, Elon Musk.” She did not comment on the price, though it is possible Musk paid seven or maybe even eight figures. For comparison, Z.com sold for nearly $6.8 million in 2014. Elon Musk said on Twitter that he does not have any immediate plans for the domain.

Source: Domain Investing

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