(TheRedAlertNews.com) – Billionaire Elon Musk, presently the world’s second richest person, is building his own town outside Austin, Texas, near facilities of his companies SpaceX and Boring.
Elon Musk’s town is dubbed Snailbrook and is located along the Colorado River, 35 miles outside Austin, The Wall Street Journal reports, as cited by Newsmax.
The new town will occupy up to 6,000 acres of land, which Musk has been buying from ranchers and other family landowners in the area.
The report points out that the billionaire, who also owns Tesla and Twitter, appears to envision Snailbrook “as a sort of utopia,” which already offers affordable housing to workers of his companies.
Since the beginning of last year, employees of the Boring company were eligible to apply for two- or three-bedroom houses with an $800-a-month rent, compared with the $2,200 median rent in Bastrop County.
Elon Musk’s future town borders new SpaceX and Boring facilities presently under construction. It already features several modular homes, a pool, a gym, and an outside sports area.
The name Snailbrook is associated with Elon Musk’s demand that his employees at Boring, a tunneling company, engineer machines working “faster than a snail.”
The report reveals that officials of Bastrop County, Texas, have already approved street names for the new town, such as “Boring Boulevard,” “Waterjet Way,” and “Cutterhead Crossing.”
According to sources familiar with the billionaire’s plans, Musk intends to reside in a private compound near his new town.
For most of the past couple of years, he has lived in an Austin mansion belonging to a friend of his.
Texas law requires that a town have 201 residents to apply to incorporate, and a judge must approve the application.
A spokeswoman for the county said neither Musk nor any of the four companies that have been purchasing the land for the new town had submitted an application yet.
Unnamed sources say that if his town is incorporated, Musk could set his regulations, and the new settlement would even have a mayor.
It is noted that Texas – unlike Tesla and Boring’s previous home, California – has no corporate income tax, income, or capital-gains taxes on individuals. Texas also offers fewer zoning and environmental and labor requirements.
In December 2021, before he moved his companies to Texas, Musk described California as the land of “overregulation, overlitigation, overtaxation.”
Tesla has a manufacturing plant outside Austin, in Travis County, which is more than 10 million square feet on a plot of 2,500 acres.
Next to Snailbrook, SpaceX is building a 500,000-square-foot facility, and Boring is developing a new warehouse across state road 1209.
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