Elon Musk is building a town in Texas for his Employee’s to work in live in, according to multiple sources.
Musk, according to the Wall Street Journal, envisioned the city as a “kind of Texas utopia along the Colorado River.” Musk would be able to decide some of the city’s regulations if he founded the municipality. Last year, at an all-hands gathering of Boring employees, the company’s president, Steve Davis, reportedly discussed hosting a mayoral election.
The planned community is near the Boring and SpaceX sites and has modular homes and pole-mounted signs.
Reportedly, Musk intends to provide workers with rental homes priced well below the local market average. One advertisement purportedly stated that a two- or three-bedroom property would cost $800 per month, compared to $2,200 per month in nearby Bastrop, Texas. The municipality also has plans for a Montessori school.
The minimum population requirement for incorporation in Texas is 201 residents. The Journal’s article describes plans for the construction of 110 additional homes in the Snailbrook neighborhood.
Should Musk construct his own city, he will not be the only billionaire in Texas to own a municipality. Mark Cuban, owner of the Dallas Mavericks, purchased Mustang, Texas for an undisclosed sum in 2021.
Since 2017, the city had been listed for sale with an initial asking price of $4 million. It was eventually reduced to $2 million, but remained unsold. Mustang is located in Navarro County, approximately one hour south of Dallas, directly off Interstate 45. But, 77 acres falls well short of what Musk supposedly has in mind.