Elon Musk Planning To Become Landlord - Read Details Of Musk's Next Move

New Delhi: The CEO of Tesla and SpaceX, Twitter, and other five countries apparently intends to construct Snailbrook, a corporate town for employees. According to reports, the project will be close to Austin, Texas. The planned community would have 110 homes close to the SpaceX and Boring operations in Bastrop County.

Rent for a two or three-bedroom home would start at about $800 per month, and employees would be encouraged to apply. According to a WSJ story, hamlet would also have a Montessori school that could accommodate up to 15 pupils. (Also Read: Open Account With Rs 250, Get Rs 2.5 Lakh At Maturity From This Govt Scheme: Check Return Calculator, Other Details)

The mascot of The Boring Company is referred to in the planned town name Snailbrook. As Elon Musk began the tunnelling project, he challenged his staff to create boring machines that move "faster than a snail." This is how the name was born. (Also Read: This Restaurant Gives Free Food To Customers Over 158 Kg Weight - Read Story)

Over the past few years, Musk's businesses and/or executives have acquired at least 3,500 acres of land in the Austin region, and Snailbrook is just one of many ongoing projects.

But, some locals are worried about how the projects would affect the environment, particularly since Boring intends to discharge up to 5,30,000 litres of industrial wastewater into the Colorado River.

Notwithstanding any possible problems, Snailbrook might provide staff at Musk's numerous firms with a more inexpensive housing alternative. Workers in Snailbrook would pay below-market rent, which is $2,200 a month on average in adjacent Bastrop.

Yet, because they would be paying Musk rent and perhaps being subject to his rules for the municipality, the town would also leave its employees subservient to Musk.

Employees from Musk's other businesses, like Tesla's Texas Gigafactory, have apparently been invited to apply for Snailbrook housing as well.