X.COM - Deepstash
X.COM

X.COM

  • After selling Zip2, Elon Musk had started to develop a strong reputation. Hence, he was able to partner with Barclays for his next business venture, X.com. At this time, people were still very wary of the internet. People were not even willing to buy books online, as they worried about using their bank details on the internet.
  • However, Elon opened one of the first online banks, X.com, and managed to increase people’s confidence in online banking through his innovative approach.
  • X.com’s executives asked the company board if they could demote Musk as CEO. The executives succeeded, and Musk became an advisor.
  • In July 2002, the company was sold to eBay for $1.5 billion. From this, Musk received $250 million.

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ralcal

Commercial art gallery manager

A Primer On Elon Musk

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