Elon Musk Planning To Own An Entire Town In The US Where His Employees Could Live & Work

The world¡¯s second-richest person, Elon Musk, and his companies have reportedly been acquiring thousands of acres of land in the US¡¯ state of Texas. The reason?

The billionaire hopes to own a town of his own where his employees could live and work, according to a report from the Wall Street Journal published on Thursday.

Musk's Own Town, "Snailbrook"

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Elon Musk's associates have purchased at least 3,500 acres near Texas' capital city of Austin and are in the process of working towards incorporating a town called Snailbrook, an apparent reference to the mascot of Musk¡¯s tunnelling firm, the Boring Company.

The report cites county deeds and other land records, as well as city and county emails, internal company communications, state licencing records, and interviews with land owners and city and county officials.

Over the years, tech companies have offered numerous amenities on campus to recruit workers and sometimes incentivize them to put in longer hours. By building out a company town of his own, Musk could take that approach even further.

However, this practise of founding an entire new town or city is not something new if we look back in history. Even in India, the city of Jamshedpur in the state of Jharkhand was named after Indian industrialist Jamshedji Nusserwanji Tata, who founded the city in 1919 and was also the founder of the Tata Group. Also, the town of Modinagar in UP was named after Rai Bahadur Gujar Mal Modi, who founded the town in 1933 and also established the Modi Group of Industries.

Also Read: List Of Companies Co-Founded/Headed By Elon Musk

Elon Musk's Plan

According to the report, Musk wants employees at his companies Boring Co., Tesla and SpaceX ¡ª all of which have major production facilities near Austin ¡ª ¡°to be able to live in new homes with below-market rents.¡± The Snailbrook town effort also reportedly includes plans to build more than 100 homes, as well as neighborhood features such as a pool and outdoor sports area.

Incorporating a town might also give Musk, who has been known to clash with state and federal regulators, more say over how things are run.

Also Read: Meet Elon Musk's 'Right-hand Man' Jared Birchall

Elon Musk's Hint In 2020

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Elon Musk had announced in 2020 that he would move Tesla¡¯s headquarters and his personal residence from California to Texas, blaming frustrations with California¡¯s coronavirus-related restrictions.

Last year, Tesla opened a new Gigafactory manufacturing facility in Austin. Musk¡¯s SpaceX and Boring Co. also have facilities in Texas, and Boring Co. has reportedly been in talks with Austin about the possibility of building tunnels in the city, according to a February report from the Austin American Statesman, as per a CNN report.

Property records for Bastrop County, which is adjacent to Austin, show that Elon Musk's Boring Co. owns 11 parcels of land at one address near the Colorado River where mobile homes were built over the past three years, according to records reviewed by CNN. The Texas Commission on Environmental Quality is set to hold a meeting on plans for a wastewater treatment plant on the same site, which were submitted by an LLC registered to a Boring Co. executive, according to a public announcement of the meeting.

As per the report, that same entity also owns a number of parcels of nearby property, including commercial and residential building plots and pasture and farming land, public records show. The Journal reported that Musk¡¯s team has discussed incorporating the town into Bastrop County. The county told the Journal that it had not received an application for incorporation, which requires a certain number of residents, from Musk or any of his entities.

Also Read: Elon Musk Likely To Appoint The Boring Company's CEO As Twitter CEO

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