Please actually read the article

The company was originally established by Max Levchin, Peter Thiel, and Luke Nosek in December 1998 as Fieldlink. Later it was renamed Confinity,[9] a company which developed security software for hand-held devices.[10] When it had no success with that business model, it switched its focus to a digital wallet.[11] The first version of the PayPal electronic payments system was launched in 1999.[12]

In March 2000, Confinity merged with X.com, an online financial services company founded in March 1999 by Elon Musk, Harris Fricker, Christopher Payne, and Ed Ho.

Musk founded a company that merged with the company that invented PayPal.