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Texas transplant Elon Musk plans to start a university in Austin, according to tax filings for one of his charities first reported by Bloomberg News.
The charity, called “The Foundation,” plans to use a $100 million donation from Musk to create and open an elementary and secondary school in Austin focused on teaching science, technology, engineering and Mathematics focused. Once fully operational, the filing states, the school will focus on establishing a university. The school intends to pursue accreditation by the Southern Association of Colleges and Schools Commission on Colleges, a necessary first step in establishing the school.
According to the filing published by Bloomberg, the university would teach its students both in person and use distance learning technologies. Enrollment is expected to begin with 50 students and expand over time. The school would fund its activities through donations and tuition fees. However, the filing also states that the school could provide financial aid if a student cannot pay tuition or fees. An executive director, teachers and administrators are currently being hired, the filing states.
Musk's plan to create a new university in Austin — where the flagship University of Texas at Austin and several other private universities are already located — comes as another new private school in the city is set to officially open to students in fall 2024 should.
The University of Austin was founded two years ago by a group of higher education critics in response to their belief that U.S. college campuses were no longer places where students and faculty could openly exchange ideas.
Speaking to The Texas Tribune on Wednesday, University of Austin President Pano Kanelos said he hopes the school can be a champion for free speech and open inquiry.
“We are living in a time right now where things seem to be falling apart, where people seem to be becoming separated from each other, where institutions seem to be shaking to their foundations,” Kanelos said. “The best answer is to build new things.”
Musk's new university does not yet have a name. The foundation did not immediately respond to a request for comment.
The foundation's trustees include Jared Birchall, head of Musk's family office; Steven Chidester, tax attorney at Withersworldwide; and Ronald Gong and Teresa Holland, who work at the Catalyst Family Office in California, according to Bloomberg.
The Texas Tribune partners with Open Campus for higher education coverage.
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