Elon Musk, the world’s richest man, is planning to build a $1 billion science institute in Dubai which will gather some of the brightest minds in the world, his father revealed
Elon Musk, the world’s richest man, is planning to build a $1 billion science institute in Dubai which will gather some of the brightest minds in the world, his father revealed
The ambitious project which is set to be named ‘The Musk Institute’ will be dedicated to the study of gravity and nuclear fusion, amongst other scientific focuses – and aims to retain local talent in attempt to combat the global “brain drain”.
Whilst on a business trip to the UAE, Errol Musk, father of the Space X and Tesla owner met with senior members of the UAE government to discuss their plans and scout for potential locations for the project.
“Dubai is a model city, but the ‘brain drain’ is an astronomical figure – it’s a big problem,” Errol Musk explained.
‘The Musk Institute’ will be more than just a facility; it represents a long-standing dream for the Musk family. According to Errol, the idea has been discussed between him and Elon for years, particularly since the launch of Space X in 2001. Now with the financial backing and vision to make it a reality, it’s hoped the project will begin construction in 2025.
“When I discussed it with Elon, he liked the concept and said ‘we must do it now or somebody else will do it’.” Errol Musk
The plans for the project feature a state-of-the-art three-storey building equipped with accommodations for students and researchers. In a quirky addition, the facility will also include a burger-dispensing machine – a nod to the Musks’ unconventional approach to innovation.
Beyond its physical infrastructure, the institute’s ambitions are grander still. “This institute will be on the level of the Nobel Prize, we will create a Musk Prize,” Errol hinted
The project’s $1 billion funding will come directly from Elon Musk’s fortune, which currently exceeds $460 billion, according to his father. Yet Errol believes that Elon’s ventures are worth far more. He pointed out that SpaceX alone could be valued at over $1 trillion.
