Archive · 19 Dec 2025
Musk Denies Being Fired from PayPal
Elon Musk, the CEO of SpaceX and Tesla, recently said he wasn't fired from PayPal, a company he helped build.
He said most of the executives and board members didn't agree with his big decisions and wanted him to leave.
Musk was on his honeymoon when this happened.
He still owned a big part of the company, so he couldn't be forced out completely.
Later, he let Peter Thiel, who was involved in his exit, invest in his new company, SpaceX.
This investment turned out to be very successful.
Musk shared this story on X to correct what he says is a wrong version of events often told in the media.
Elon Musk denies being fired from PayPal, stating it was a 'palace coup' by most of the executive team and board.
Musk was the largest shareholder in PayPal and retained a 12% stake after his exit.
Peter Thiel, a PayPal co-founder, was involved in Musk's removal but later invested $20 million in SpaceX.
Musk's push to shift PayPal's infrastructure to Microsoft technology was seen as a high-risk decision.
Musk's exit from PayPal occurred while he was on his honeymoon with his then-wife Justine.
- Who
- Elon Musk, Peter Thiel, PayPal executives and board members
- What
- Elon Musk's exit from PayPal and his denial of being fired
- When
- September 2000 (exit), recent (clarification)
- Where
- PayPal (exit), X (clarification)
- Why
- Concerns about Musk's strategic direction and risk-taking
- Elon Musk
- CEO of SpaceX and Tesla, former CEO of PayPal
- Peter Thiel
- Co-founder of PayPal, venture capitalist
- PayPal
- Online payment company
- SpaceX
- Aerospace company founded by Elon Musk
- Founders Fund
- Venture capital firm founded by Peter Thiel
- 12% stake
- Musk's remaining stake in PayPal after his exit
- 10% stake
- Founders Fund's investment in SpaceX
- $20 million
- Investment by Founders Fund in SpaceX