Elon Musk may start a new university for Texans by the name of Texas Institute of Technology & Science

By Team Tech Outlook Published on October 29, 2021, 18:48 IST

Elon Musk may start a new university for Texans by the name of Texas Institute of Technology & Science

Elon Musk tweeted that he may gift the Texans with a university. He is going to name it as Texas Institute of Technology & Science. He also said that the university will have epic merchandise.

Elon Musk is not pleased. With a personal fortune approaching $300 billion, Tesla CEO Elon Musk — the world’s richest man — has been railing against a Democratic proposal to tax the assets of billionaires like him.

The Democratic goal is to utilize income from a billionaires tax to help fund a domestic policy package currently being debated in Congress, which includes measures to address climate change, provide universal prekindergarten, and expand healthcare systems, among other things. The concept was not included in President Joe Biden’s blueprint for a domestic policy package unveiled on Thursday, while a compromise among Congressional Democrats is still being worked out.

Musk, who recently surpassed Amazon founder Jeff Bezos as the world’s wealthiest man thanks to Tesla’s rising stock price, might face a one-time $50 billion tax charge under the Democratic plan.