Elon Musk, the renowned billionaire and entrepreneur, is reportedly expanding his horizons into the education sector with plans to establish a new primary and secondary school, and eventually a university, in Austin, Texas.
This move is backed by a substantial donation nearing $100 million, according to recent tax documents.
A Bold Step into Education
Elon Musk's associates, including Jared Birchall, who manages Musk’s family office, are spearheading the project.
They are named as leaders of The Foundation, the organization behind the new school. This initiative seems to be a significant extension of Musk's influence, which already spans various industries and global engagements. The Foundation's application for tax-exempt status, filed last year with the Internal Revenue Service (IRS), outlines its mission to teach "STEM subjects and other topics." The IRS filing, dating back to October 2022, was made public by Bloomberg, which first reported on the school's plans.
Although CNN could not independently verify the authenticity of the filing, the IRS had approved The Foundation’s tax-exempt status in March 2023, as per a letter on the IRS website, matching the employer identification number used in Bloomberg's report.
Vision for the Future: From School to University
The school is being designed to cater to students with proven academic and scientific potential, offering a rigorous, project-based curriculum. Initially, it plans to enroll about 50 students, with intentions to expand over time.
Funding for the school is expected to come from donations and tuition fees, with scholarships available to support those who cannot afford the fees. The filing also mentions ongoing efforts to hire an executive director, teaching, and administrative staff, and future plans to seek accreditation from the Southern Association of Colleges and Schools Commission on Colleges.
Ambitiously, The School aspires to eventually evolve into a university dedicated to high-level education. This educational venture by Musk and his associates is a striking development, potentially bringing innovative approaches to learning and academia.
It underscores Musk's commitment to education, particularly in STEM, and adds a new dimension to his diverse portfolio of groundbreaking initiatives.