Active Stocks
Fri Apr 12 2024 15:57:45
  1. Tata Steel share price
  2. 163.50 -1.00%
  1. NTPC share price
  2. 362.00 -0.32%
  1. ITC share price
  2. 430.10 -1.56%
  1. HDFC Bank share price
  2. 1,518.90 -1.10%
  1. State Bank Of India share price
  2. 766.75 -1.57%
Business News/ Companies / News/  Elon Musk University? Tesla maker pledges $100 million to launch school in Texas: Report
BackBack

Elon Musk University? Tesla maker pledges $100 million to launch school in Texas: Report

The new charity that Musk has donated to plans to launch a school catering to elementary through high school-age children is planning to launch with USD 100 million, according to tax filings viewed by Bloomberg.

Elon Musk to set up university (REUTERS)Premium
Elon Musk to set up university (REUTERS)

Elon Musk intends to establish his own university in Austin, Texas, according to a recent report from Bloomberg.

However, he wants to start a school for younger students.

The new charity that Musk has donated to plans to launch a school catering to elementary through high school-age children is planning to launch with USD 100 million, according to tax filings viewed by Bloomberg. It will teach STEM subjects and has an initial enrolment of about 50 students, according to the publication's filing, the report added.

Also Read | Elon Musk's SpaceX to sell insider shares at $97 each in tender offer, say reports

The development of capabilities is crucial for businesses wishing to push the boundaries of innovation.

The charity, named The Foundation, "intends ultimately to expand its operations to create a university dedicated to education at the highest levels," according to the document. The university would apply for accreditation with the Southern Association of Colleges and Schools Commission on Colleges, the document said, as reported by Bloomberg.

Also Read | Elon Musk's humanoid robot can do squats and boil eggs. All you need to know about Optimus Gen-2

Besides being "tuition-free," the school will also provide need-based scholarships if it implements tuition.

Elon Musk has expressed interest in starting a school in the past and in 2014 started a small private school, called Ad Astra, for his children and those of company employees. According to Musk, Ad Astra doesn't have grades, but instead focuses on "aptitudes and abilities," the report added.

Also Read | Elon Musk's Grok AI is now available for users in India. Here's how you can get access to the chatbot

Recently, Musk said he was interested in starting a Montessori school in Snailbrook - the company town Musk is developing in Bastrop, Texas - according to a Wall Street Journal report.

The billionaire once talked about establishing a Texas Institute for Technology, or "TITs" for short, and has made several comments on X regarding the state of education in the US.

"SpaceX and Tesla have noticed a meaningful degradation in the capability of US college graduates over the past several years," Musk wrote on X, formerly known as Twitter, on Monday.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 14 Dec 2023, 10:01 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App