Elon Musk planning STEM-focused school, university in Texas
Elon Musk contributed $100 million to build STEM-focused K-12 school in Austin
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Billionaire Elon Musk has set his sights on his next venture- a new primary and secondary school, and ultimately a university, in Austin, Texas, according to reports by Bloomberg.
Bloomberg first reported that a tax filing for Musk's charity, The Foundation, revealed that the Tesla CEO plans to put $100 million into a STEM-focused primary and secondary school in Austin, Texas.
Once the primary school is operating, it "intends, ultimately, to expand its operations to create a university dedicated to education at the highest levels."
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Tesla and SpaceXs CEO Elon Musk gestures during an in-conversation event with British Prime Minister Rishi Sunak at Lancaster House on November 2, 2023 in London, England. (Getty Images / Getty Images)
According to the filing, the university will employ "experienced faculty" and feature a traditional curriculum "alongside hands-on learning experience including simulations, case studies, fabrication/design projects and labs."
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The university will also seek accreditation from the Southern Association of Colleges and Schools Commission on Colleges.
The Foundation submitted an application for tax-exempt status to the Internal Revenue Service in October 2022, and it received approval in March.
Chief Executive Officer of SpaceX and Tesla and owner of Twitter, Elon Musk attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre on June 16, 2023 in Paris, France. (Chesnot/Getty Images / Getty Images)
Musk, who moved to Texas during the pandemic, plans to begin a school comes as he's recently expanded his footprint in Austin.
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In 2021, he moved Tesla headquarters from Palo Alto, California, to Austin, Texas, and SpaceX also has a large testing facility in McGregor, Texas.