Resurfaced Footage Shows Elon Musk in 1999 Discussing Future Banking Ventures

In vintage footage from 1999, Elon Musk, then 26, is seen standing before an ATM, sharing his vision for revolutionizing banking with CNN Perspectives.

“This is an ATM, and we’re going to transform the traditional banking industry,” he stated, as on-screen text announced, “Elon Musk is starting an internet bank.”

He added, “I don’t fit the typical image of a banker. Raising $50 million can be done with a few phone calls.”

The broadcast highlighted that Musk’s online banking venture, X.com, would later merge with Confinity to become PayPal.

In 2017, Musk reacquired the X.com domain and rebranded it after purchasing Twitter. In October 2022, he unveiled his plans for X to evolve into an “everything app” featuring banking, messaging, and video content.

Upcoming X Money Digital Wallet and Physical Card

Earlier this year, X CEO Linda Yaccarino announced the launch of X Money, a digital wallet integrated with a peer-to-peer payment system, partnering with Visa, according to reports.

Recent code updates within the X app indicate plans for physical X Money cards. These include options for card shipping, activation, PIN setup, and reporting lost or stolen cards, as uncovered by TechCrunch.

Support for other major card brands like MasterCard and American Express is also suggested, hinting at potential partnerships.

Yaccarino indicated that X Money would see several new features and announcements in 2025, marking a significant expansion of the platform.