Elon Musk University? Famous billionaire establishes his own university

Billionaire Entrepreneur Plans to Fund Construction of Futuristic School in Texas

Elon Musk, the world's richest individual with a net worth of $243.5 billion, has committed $100 million to build a university dedicated to cutting-edge education, according to tax documents obtained by Bloomberg News. The Tesla and SpaceX CEO plans to finance the development of the institution in Austin, Texas.

Focus on Science, Technology, Engineering and Math

As outlined in the application for tax-exempt status, Musk's yet-to-be-named university will first open a preparatory STEM-focused primary and secondary school for 50 students. Dubbing it "dedicated to education at the highest level," little is known about the curriculum except that it will employ "experienced faculty" and incorporate hands-on learning through "simulations, case studies, manufacturing/ design projects, and labs."

Tuition-Free Model with Merit-Based Admissions

The frontier university hopes to be tuition-free, funded through Musk's philanthropic foundation and donations. However, the filing notes tuition may be charged with need-based scholarships available. Students will gain acceptance based on merit alone, and the application stresses no preference for trustees, staff or their families.

"My goal is to provide a benefit to humanity," Musk said of his ambitious $100 million educational endeavor, which stands to revolutionize how top-tier colleges of the future may operate.

14 Ara 2023 - 16:59 - Business

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