Elon Musk to open new university in Texas 'focused on teaching in STEM subjects'

Tax filings originally obtained by Bloomberg revealed that Elon Musk plans to open a school in Austin, Texas, "focused on teaching in STEM subjects."

Musk's private foundation, "The Foundation," requested tax-exempt status from the Internal Revenue Service as it continues to formulate plans to open an independent primary and secondary school that will eventually "expand its operations to create a university dedicated to education at the highest levels." The university will seek accreditation.

Musk, who moved to Texas in 2020, gave the Foundation roughly $100 million to launch the new project. In 2022, Musk sent $2.2 billion worth of Tesla stock to the Foundation.

The October 2022 tax-exempt application to the IRS notes that the Foundation anticipates that the school will initially enroll approximately 50 students and grow over time.

Musk's school will combine formal and "hands-on" learning experiences in subjects such as math, science, engineering, and physics. Students will participate in simulations, case studies, fabrication and design projects, and labs.

"The School does not want the inability to pay tuition or fees to be a barrier for its students," the filing notes. "Thus, if a student is admitted to the School, tuition and financial support will be provided to the extent of available resources."

According to the filing, the school is already in the process of hiring an executive director, teachers, and administrators.

"All of the School's time will initially be allocated to launching a primary and secondary school. Once this school is successfully operating, a portion of the School's time will be allocated to creation of the university and other related charitable activities," it added.

The school will be funded through donations and tuition fees. Students will be admitted "based on merit," "proven academic and scientific potential," and demonstration of "academic curiosity and discipline, independence, and innovation." The application notes that students will not be admitted based on their relationship with the school's trustees or employees.

The Foundation's trustees include Jared Birchall, Steven Chidester, Ronald Gong, and Teresa Holland.

Musk also reportedly plans to build his own town on thousands of acres of farmland outside the Austin area, equipped with recreational facilities and subsidized housing for Tesla, SpaceX, and Boring Co. employees, the Wall Street Journal previously reported.

Musk's representatives did not respond to a request for comment from Bloomberg.

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