The billionaire Tesla CEO reportedly wants to create his own city in Texas, where he has lived since late 2021.
They are delusions of grandeur, his critics will say.
This is yet another sign of his megalomania, they will argue.
But there is no doubt that such a project will create a stir among its detractors and admirers.
The former will continue to see it as proof that Elon Musk, the charismatic CEO of Tesla (TSLA) – Get a free reportHe’s a billionaire like any other, who wants to use his financial power to get what he wants.
His fans will see it as the realization of an element of his overall vision of our civilization.
A whole new town in Texas
Musk, the king of techno, wants to build the city of his dreams in Texas, where he has lived since the end of 2021, according to the Wall Street Journal. The billionaire moved the headquarters of electric vehicle maker Tesla from Fremont, California to Austin, Texas in 2021. The Boring Company and SpaceX, two of his other companies, also have facilities in the state.
It has already acquired thousands of hectares of agricultural land and grazing meadows, according to notarial deeds and land documents that the newspaper consulted. The idea is to create in this space a utopian vision of Texas, where employees of his three companies, Tesla, SpaceX and The Boring Company, could live and work along the Colorado River.
There is already a sign for the site, according to photos seen on social media. One of the signs reads: “Welcome to Snailbrook, Texas, created in 2021.”
When asked about the article by a Twitter user, the billionaire said it was “fake.”
“This article is fake,” the billionaire commented on Twitter on March 11.
There are already signs at the site, according to the Wall Street Journal. One of the signs reads: “Welcome to Snailbrook, Texas, created in 2021.”
This name is a reference to a challenge Musk presented to employees of The Boring Company, whose goal is to tunnel under cities to alleviate traffic congestion. The billionaire had asked employees to design drilling machines that were “faster than snails.”
Snailbrook is also a nod to The Boring Company mascot, Gary the Snail.
The place is still a large construction site, but it is possible to see the first modular houses, a swimming pool, a sports area and a gym. There are already 100 homes in the city, located in Bastrop County, the WSJ reported.
Having revolutionized the world of automobiles and space, Musk sees himself as a real estate mogul.
election for mayor
The city project promises to give its employees the possibility of living in new houses with rents below market prices.
Real estate prices in and around Austin have risen sharply in recent months as many tech companies move to the business-friendly state of Texas.
The billionaire, his ex-girlfriend, singer Grimes, and rapper, designer and businessman Kanye West, now called Ye, as well as the rapper’s architect discussed what the city should look like last year, the newspaper said.
Also last year, Steve Davis, president of The Boring Company and a top Musk lieutenant, told employees they would have to hold a mayoral election.
Texas law requires a minimum of 201 residents for an area to be recognized as a municipality. Once this condition is met, an application file must be submitted, which must then be validated by a county judge. At the moment, Musk has not yet taken this step.
But this could be a formality for the tech mogul. Since last year, employees of The Boring Company can already apply for one of the future accommodations. It will cost them $800 per month for a one or two bedroom house. This is much less than the median rent in Bastrop County, estimated at $2,200.
It remains to be seen how the billionaire will manage his city once built. Housing would be linked to jobs, the newspaper said. Therefore, a terminated employee would have 30 days to leave the premises.
The Boring Company did not immediately respond to a request for comment.
