Elon Musk plans new university, invests $100M

Elon Musk plans to launch a STEM-focused primary and secondary school and a new university in Austin and has allocated $100 million to the effort.

The tech billionaire and owner of X filed an application with the Internal Revenue Service to establish an elementary and high school dedicated to science, technology, engineering, and mathematics and, ultimately, a university in the Texas capital, Bloomberg reported Wednesday.

The IRS application, obtained by Bloomberg, was filed in October 2022 and approved in March.

The application states that Musk’s new “[f]oundation…is in the process of creating an independent primary and secondary school,” and “The School intends ultimately to expand its operations to create a university dedicated to education at the highest levels.”