The charitable organization founded by Elon Musk, The Foundation, has announced plans to invest $100 million in building a new university in the city of Austin, Texas. The news comes as a surprise to many, considering the billionaire entrepreneur is already heavily involved in several projects in the state, including the Tesla Gigafactory and SpaceX Space Center.
According to documents filed with the Internal Revenue Service, the university will initially focus on elementary and high school education, with plans to eventually expand into higher education. The institution is seeking accreditation from the Southern Association of Colleges and Schools Commission on Colleges, a crucial step for its launch.
While details about the university are still scarce, it is reported that the school will offer both face-to-face and distance learning classes. It aims to enroll 50 students in its first year and expand its educational offerings over time. The school will be funded through donations and tuition fees, with provisions for financial aid for students in need.
The foundation’s trustees, including Jared Birchall, head of Musk’s family office, and several other notable figures, are actively hiring a team to bring this project to life. The school is currently looking for an executive director, teachers, and administrators.
This is not the first time Musk has shown his support for education. In 2020, he donated $5 million to the Khan Academy, a nonprofit education organization, to expand its reach and provide free online courses to students worldwide.
With the potential to impact the lives of students in Austin and beyond, this new institution is set to make a significant impact in the world of education.
With information from Publimetro