Elon Musk Plans to Start University in Austin, According to Tax Filings
Texas transplant Elon Musk is making headlines once again, this time with plans to start a university in Austin. According to tax filings for one of his charities, Musk’s foundation, called The Foundation, intends to use a $100 million gift from the billionaire entrepreneur to create and launch a primary and secondary school in Austin focused on teaching science, technology, engineering, and math (STEM).
The filings indicate that once the school is fully operational, it will focus on creating a university. The school plans to seek accreditation by the Southern Association of Colleges and Schools Commission on Colleges, a necessary first step to launch the institution. The university would teach students in person as well as through distance education technologies and is expected to start enrollment with 50 students, with plans to scale up over time.
The foundation intends to fund the university’s activities through donations and tuition fees, with the filing also stating that financial aid may be provided to students unable to pay tuition or fees. The institution is currently in the process of hiring an executive director, teachers, and administrators.
Musk’s plan to start a new university in Austin comes at a time when another new private school, the University of Austin, is also set to open to students in fall 2024. The University of Austin was launched two years ago by a group of higher education critics with the goal of being a champion for free speech and open inquiry, according to University of Austin President Pano Kanelos in a conversation with The Texas Tribune.
The Foundation’s trustees include Jared Birchall, head of Musk’s family office; Steven Chidester, a tax attorney at Withersworldwide; and Ronald Gong and Teresa Holland, who work at Catalyst Family Office in California.
Musk’s new university does not yet have a name, and The Foundation did not immediately respond to a request for comment.
These developments in the higher education landscape in Austin come as the city is already home to the flagship University of Texas at Austin and multiple other private universities. The University of Texas at Austin has been a financial supporter of The Texas Tribune, a nonprofit, nonpartisan news organization that is funded in part by donations from members, foundations, and corporate sponsors. Financial supporters play no role in the Tribune’s journalism.