Recently Established Charity Donates $100 Million

Elon Musk, CEO of Tesla, is establishing a university in Austin, Texas, where Tesla's headquarters and production facility, the Gigafactory, are located.


[Image source=Yonhap News]

[Image source=Yonhap News]

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On the 13th (local time), Bloomberg reported this after analyzing documents submitted to the IRS by The Foundation, a recently established charitable organization by Musk.


The foundation plans to establish elementary and middle schools specialized in science and engineering, funded by a $100 million donation from Musk. It will later expand operations by establishing a university that provides top-level education. The new school is expected to enroll 50 students.


To this end, experienced faculty will be appointed, and the curriculum will include traditional courses as well as practical education such as simulations, case studies, production and design projects, and laboratory work. The foundation submitted an application last October and received IRS approval in March of this year. Additional permits from educational authorities will be required in the future.


Musk has shown great enthusiasm for various educational experiments. About 10 years ago, he established an alternative school called Ad Astra (now Astra Nova) on SpaceX's California campus for his five children and employees' children. At that time, he withdrew his five children from prestigious private schools and provided them with new education at the alternative school he founded. When Musk moved to Texas in 2020, the school also relocated with him.



In addition to donating $100 million to the new foundation to establish the university in Austin, Musk has made many contributions to nonprofit organizations for disaster relief. Last year, he also donated $22 billion worth of Tesla stock to the Musk Foundation.


This content was produced with the assistance of AI translation services.

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