Musk has reclaimed a bit of that internet history for himself by purchasing the defunct domain name X.com from his former employer PayPal.
Confinity was co-founded by Peter Thiel and Max Levchin, now notable internet entrepreneurs and investors — Thiel became a billionaire by investing early in Facebook, while Levchin went on to help found Yelp and currently operates a digital loan service called Affirm.
The entire company was rebranded as PayPal in 2001, a year after Musk left the company over disagreements with other executive members. But PayPal later went public and got scooped up by Ebay for $1.5 billion in 2002.
X.com likely didn’t come for cheap, though PayPal isn’t saying just how much Musk paid and Musk hasn’t disclosed what he plans to do with it.