Texas billionaire Elon Musk launching new university in Austin, according to filing

Billionaire and Texas transplant Elon Musk plans to set up his own university in Austin, according to recent tax filings. The university will be funded by a $100 million donation from Musk to a charity called The Foundation, according to the paperwork. The money will go to creating a primary and secondary school before expanding into a full-fledged institution of higher education that will focus on science, technology, engineering and math, documents state.