Elon Musk wants to open a university
Elon Musk wears a necklace in honor of Israeli hostages onstage during The New York Times Dealbook Summit 2023 at Jazz at Lincoln Center on November 29, 2023 in New York City. (Photo by Slaven Vlasic/Getty Images for The New York Times)
AUSTIN, Calif. - Billionaire Elon Musk's reach spans across various industries, from aerospace to automotive to social media. The business magnate wants to explore higher education in his latest undertaking.
Bloomberg first reported that a tax filing for Musk's charity, The Foundation, revealed that the Tesla CEO wants to put $100 million into a STEM-focused primary and secondary school in Austin, Texas, which would later expand to include a university "dedicated to education at the highest levels."
The filing said the institution would hire "experienced faculty" and have a standard curriculum "alongside hands-on learning experience including simulations, case studies, fabrication/design projects and labs," according to Bloomberg. The university will pursue 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.