Quoted: PayPal giveth, taketh away $92 quadrillion from customer

“I’m a very responsible guy. I would pay the national debt down first. Then I would buy the Phillies, if I could get a great price.”

Chris Reynolds, of Media, Pa., on seeing in an email statement that his PayPal balance was $92,233,720,368,547,800 . He was not a quadrillionaire — nor the richest man in the world — for long, however. When he logged on to his PayPal account, his balance read $0. Was someone at PayPal a bit spacey? Perhaps PayPal just has astronomical on the mind: As the Merc’s Heather Somerville wrote last month, the company is working on a payments system for use in outer space. But  back to the big oops. ”This is obviously an error and we appreciate that Mr. Reynolds understood this was the case,” the San Jose company said in a statement, according to CNN. The company, owned by eBay (market capitalization: about $73.8 billion), said it offered to donate money to a cause chosen by Reynolds.

 

Photo of PayPal’s San Jose office from Reuters archives

Levi Sumagaysay Levi Sumagaysay (3881 Posts)

Levi Sumagaysay is editor of the combined SiliconBeat and Good Morning Silicon Valley. She also helps take care of SiliconValley.com, the Mercury News tech website. Email: lsumagaysay (at) bayareanewsgroup (dot-com).