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Why Elon Musk Bought Back the X.com Domain from PayPal

Elon Musk said he bought back x.com for its sentimental value, not a stated business plan. PayPal confirmed the 2017 sale but kept the price private.
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Elon Musk said he bought back x.com from PayPal in 2017 because it had great sentimental value to him; he said he had no plans for it at the time. PayPal confirmed the sale, but did not disclose the price.

What happened in the 2017 sale?

PayPal sold the x.com domain to Musk, whom the company described as its previous owner. The sale took place the week before July 11, 2017, according to DomainInvesting’s contemporaneous report, which reproduced PayPal spokeswoman Amanda Miller’s statement: “We are delighted to sell the domain x.com back to its previous owner, Elon Musk.”

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PayPal declined to reveal the sale price, and the contemporaneous reporting did not establish what Musk paid. The transaction was a domain sale—not an acquisition of PayPal or its payment service.

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Why did Musk want x.com?

In a public post on July 11, 2017, Musk thanked PayPal for letting him buy the domain back and explained his reason: “No plans right now, but it has great sentimental value to me.” Inc. quoted the post. His statement describes a personal attachment, not a declared business plan or a promise of a particular future use.

What was X.com before it became PayPal?

X.com was the name of Musk’s online-banking startup, not simply an older name for today’s domain. According to the company history in PayPal’s SEC filing, X.com Corporation was incorporated in March 1999 to provide internet banking. It merged with Confinity on March 30, 2000; Confinity’s products included PayPal. The merged company formally adopted the name PayPal, Inc. in February 2001.

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What happened to the domain after the sale?

Fortune reported on July 14, 2017, that Musk had announced x.com was live and described the page at that time as displaying a tiny “x.” That is a snapshot of the site during launch week, not evidence of its current owner, content, or destination. The cited reporting does not establish who owns or operates x.com today.

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