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Tesla’s Elon Musk came close to bankruptcy during his time at PayPal. Here’s how he turned it into SpaceX triumph

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In 2024, Elon Musk was appointed co-lead of the Department of Government Efficiency, marking a shift from his entrepreneurial ventures to government service. A biography by Walter Isaacson revealed that Musk was ousted as CEO of X.com (predecessor of PayPal) in 2000, an incident Musk saw as a blessing in disguise. Retaining equity, Musk earned $250 million when eBay acquired PayPal, which set the stage for founding SpaceX in 2002. Despite early struggles and near bankruptcy, SpaceX succeeded with support from the Founders Fund. Today, SpaceX is at the forefront of space exploration, with NASA relying on the company for critical missions.