Elon Musk Is Funding a New School In Austin, Texas

"Associates of Elon Musk are planning to launch a new primary and secondary school," reports CNN, "and ultimately a university, in Austin, Texas, with the help of a nearly $100 million donation from the billionaire, tax documents show..."Members of Musk's inner circle - including Jared Birchall, who runs Musk's family office - are named as leaders of The Foundation, a new school planning to teach "STEM subjects and other topics," in an application to the Internal Revenue Service asking for tax-exempt status last year... The IRS filing, dated October 2022, was obtained and posted publicly by Bloomberg, which first reported plans for the school on Wednesday... "The School is being designed to meet the educational needs of those with proven academic and scientific potential, who will thrive in a rigorous, project based curriculum," the filing posted by Bloomberg states. The school plans to initially enroll about 50 students and grow over time, according to the filing. It expects to be funded through donations and tuition fees, although it notes that the school will offer scholarships to support students who couldn't otherwise afford to attend... "The School intends ultimately to expand its operations to create a university dedicated to education at the highest levels," according to the filing... The Foundation said in its filing said that it had raised around $100 million in contributions since mid-2022 for the new Austin school. The 2022 annual 990 tax filing for the Musk Foundation, also made public by Bloomberg, notes that the Musk charity donated $10 million in cash to the group that year, as well as nearly $90 million worth of Tesla stock.

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