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New tax filings have revealed that Elon Musk will be starting a new university in Austin, Texas.
This educational institution is kicking off with around $100 million from Musk, and will begin with a STEM-focused primary and secondary school, Bloomberg reports.
An application to the Internal Revenue Service said that the plan is “ultimately to expand its operations to create a university dedicated to education at the highest levels,” according to the outlet.
Musk has dabbled in education before; the tech mogul formed Ad Astra on SpaceX’s California campus about 10 years ago, which served his five kids and a few children of his space company’s employees.
This new STEM school is projected to have an initial class of 50 students and hopes to bring on an executive director, teacher and administrator, per the application.
Musk reportedly gave $2.2 billion worth of Tesla stock to his Musk Foundation in 2022. Gifts stemming from this donation included almost $100 million to seed his newest charity, and money to disaster relief nonprofit World Central Kitchen, Khan Academy and a donor advised fund at Fidelity Charitable, according to recent tax forms.
The tech billionaire is also forming a new town outside of Austin, with recreational facilities, a school and subsidized housing for employees of Tesla, SpaceX and the Boring Co., according to a Wall Street Journal report in March.
Musk is currently the world’s richest man and has a net worth of $220.8 billion, per Bloomberg.
This is a breaking story and will be updated.
This educational institution is kicking off with around $100 million from Musk, and will begin with a STEM-focused primary and secondary school, Bloomberg reports.
An application to the Internal Revenue Service said that the plan is “ultimately to expand its operations to create a university dedicated to education at the highest levels,” according to the outlet.
Musk has dabbled in education before; the tech mogul formed Ad Astra on SpaceX’s California campus about 10 years ago, which served his five kids and a few children of his space company’s employees.
This new STEM school is projected to have an initial class of 50 students and hopes to bring on an executive director, teacher and administrator, per the application.
Musk reportedly gave $2.2 billion worth of Tesla stock to his Musk Foundation in 2022. Gifts stemming from this donation included almost $100 million to seed his newest charity, and money to disaster relief nonprofit World Central Kitchen, Khan Academy and a donor advised fund at Fidelity Charitable, according to recent tax forms.
The tech billionaire is also forming a new town outside of Austin, with recreational facilities, a school and subsidized housing for employees of Tesla, SpaceX and the Boring Co., according to a Wall Street Journal report in March.
Musk is currently the world’s richest man and has a net worth of $220.8 billion, per Bloomberg.
This is a breaking story and will be updated.
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