But the Tesla Inc. and SpaceX chief now insists the deal is part of a masterplan to launch an “everything app” incorporating messaging, payments and commerce that has been more than two decades in the making.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
Musk revealed in August, however, that he did in fact have “a grander vision for what I thought X.com or X Corporation could have been back in the day.” A newly minted multimillionaire, Musk invested US$12 million — most of his proceeds from the Zip2 sale, after tax — into X.com. He envisaged it ultimately becoming a one-stop shop for financial services, from consumer bank accounts to brokerage services and insurance.
“If all your financial affairs are seamlessly integrated one place, it’s very easy to do transactions and the fees associated with transactions are low,” Musk is quoted as saying in Vance’s 2015 biography. “Why aren’t they doing this? It’s mad.”
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