The South African business magnate, Elon Musk, is currently a leading figure in Space Technology and the EV domain. The success that the Tesla owner is basking in did not come easily. Before foraying into Space, Musk was a part of the pioneers of the e-banking revolution. Going back in time, in 2000, Musk led the internet banking site X.com. However, the business mogul was not satisfied with his role in the company.
“I Never Wanted To Be A CEO”: Elon Musk
Musk is known to respond to random Twitter queries and trolls. In one such episode, a user spotlighted Musk’s stint at the internet banking company, X.com, which he co-founded. The user wrote, “The company’s [X.com] investors regarded Musk as inexperienced and had him replaced with Intuit CEO Bill Harris by the end of the year.”
The company's investors regarded Musk as inexperienced and had him replaced with Intuit CEO Bill Harris by the end of the year.@elonmusk this must have been very hard and painful!! I believe u were a victim of politics. Could you pls shed more light into the event?#GalaxyHeroes pic.twitter.com/DWGjPSJJ86
— Spidey_ElonFan (@spideycyp_155) June 2, 2022
The user presumed that the experience must’ve been “very hard” and “painful,” and asked Elon to shed some light on it. The Tesla owner revealed that he never wanted to be a CEO. He wrote, “…just wanted to work on product/ technology. Bill Harris sounded like he would be a great CEO, given his Intuit experience, but he was not.”
I never wanted to be CEO – just wanted to work on product/technology. Bill Harris sounded like he would be a great CEO, given his Intuit experience, but he was not.
Running companies hurts my heart, but I don’t see any other way to bring technology & design to fruition.
— Elon Musk (@elonmusk) June 2, 2022
He said that though running companies hurt his heart, there is no other way to bring technology and design to fruition. In 2000, Musk left the company X.com due to differences with the board.
What Happened To X.Com?
In 2001, the company was merged with another online pay-services Company Confinity. They gave an online money transfer service with PayPal as well. Back then, X.com was recognized more than Confinity, but the merger led to the rebranding of both as PayPal.
In 2002, the board decided to go public with an IPO and sold on E-bay for $1.5 million. Musk benefitted largely from this public offering which netted his income around $170 million to $180 million. In 2017, Elon Musk bought the domain back. Paypal announced, “We are delighted to sell the domain x.com back to its previous owner, Elon Musk.”
