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PayPal Sells X.com Back to Its Previous Owner, Elon Musk

In February 2001, PayPal’s founder Elon Musk changes the name of the company from X.com to PayPal. In October 2002, PayPal was acquired by eBay for US $1.5 billion in stock. Source: Wikicommons
PayPal’s corporate communications director confirmed that the company has sold the domain X.com back to its previous owner, Elon Musk. Elliot Silver from DomainInvesting.com reports: “X.com is one of the few single letter .com domain names, and I would argue that it is one of the most valuable domain names. ... I recently detected a Whois change involving the X.com domain name. For many years, X.com was registered to PayPal Inc. ... Late yesterday afternoon, Amanda Miller, Director of Corporate Communications at PayPal, confirmed that the company sold the domain name [‘back to its previous owner, Elon Musk’]. ... Because PayPal is a publicly traded company, and because I presume this domain name is likely worth into the 8 figures, it is possible that there will be a subsequent SEC filing that mentions the sale of this domain name.”

Update / July 11: Elon Musk tweets a statement on the domain buy back: “Thanks PayPal for allowing me to buy back X.com ! No plans right now, but it has great sentimental value to me.”

By CircleID Reporter

CircleID’s internal staff reporting on news tips and developing stories. Do you have information the professional Internet community should be aware of? Contact us.

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