According to tax files obtained by Bloomberg, Tesla and SpaceX CEO Elon Musk plans to finance the construction of a university in Austin, Texas, USA. It is stated that 100 million dollars will be allocated to the educational institution to be established. It is also stated that the educational institution will focus on high-level education.Musk is establishing a university
According to the application, which requests tax-exempt status, the organization plans to open a 50-person STEM-focused elementary and secondary school before college; this school will be “dedicated to education at the highest level.” Details about the school are scant, but the application notes that the university will employ “experienced faculty” and have a traditional curriculum supported by hands-on learning experiences including “simulations, case studies, manufacturing/design projects, and laboratories.”
According to Bloomberg, the university will be financed by tuition and donations from The Foundation, the charity into which Musk invested $2.2 billion of Tesla shares last year. The application states that the school intends to be “tuition-free,” but may charge fees and offer need-based scholarships. Students will be selected based on merit, according to the application, which states that the school does not guarantee admission to foundation trustees, officers, employees or family members.
Musk’s net worth is estimated at $243.5 billion, making him the richest person in the world. It is stated that Musk donated $410 million to charities throughout his life.
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