The billionaire plans to open an educational institution in Austin, Texas, that will start as a STEM-focused elementary and middle school, but with the goal of “expanding to a university,” according to tax filings from The Foundation.
According to an application for tax-exempt status filed by the foundation in October 2022 with the Internal Revenue Service and reviewed by Bloomberg, the university will employ “experienced faculty” and employ a traditional curriculum “along with hands-on learning experiences, including simulations, case studies, design projects and laboratory experiments”.
The institution plans to receive accreditation from the Commission on Colleges of the Southern Association of Colleges and Schools. Musk or his representatives have not yet responded to a request for comment.
In 2021, Elon published a laconic tweet announcing the aforementioned university, which allegedly will also receive “epic merch.” At the same time, the billionaire created the Ad Astra school 10 years ago at the SpaceX California campus for his five children and several children of employees of his space company. Later, the organization moved to Texas with Musk.
As Bloomberg points out, Austin has become a center of innovation in higher education. The city is home to the main campus of the University of Texas, and the University of Austin, planned two years ago as an alternative to the “illiberalism” of traditional American colleges, will open in the fall with an initial class of 100 students. The school, which is backed by prominent figures in academia and finance, including historian Niall Ferguson, former Treasury Secretary Larry Summers and venture capitalist Joe Lonsdale, has raised about $200 million in private donations.
According to the application, Musk’s new STEM school will have a starting class of 50 students, an executive director, a teacher and an administrator.
In 2022, the billionaire transferred $2.2 billion worth of Tesla shares to his personal fund, and also donated about $100 million to launch his new charity. Max also sent charitable contributions to World Central Kitchen, the Khan Education Academy and the Fidelity Charitable Foundation, according to recent tax forms.
Musk is currently the richest person in the world with a fortune of $220.8 billion.
Earlier it became known that he is creating the city of Snailbrook outside Texas with housing for employees of Tesla, SpaceX and Boring Co., as well as building a huge glass house (prosecutors are currently investigating Tesla’s expenses for the construction of this secret facility).
Utopia of Elon Musk. A billionaire is building a separate city for employees – with a closed area, a private school and a swimming pool
