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FACT BRIEF

Is a billionaire considering building a futuristic city in the Nevada desert?

By Austin Tannenbaum
View this fact brief on The Nevada Independent
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YES

Billionaire entrepreneur Marc Lore plans to build a futuristic city named Telosa that is move-in ready by 2030.

Nevada is one of several locations being considered for Telosa. The others are Utah, Idaho, Arizona, Texas and the Appalachian region.

Telosa says it will utilize technology and design principles and practice “open, fair, and inclusive” values to “create a more equitable and sustainable future.”

Telosa, taken from the Greek telos, meaning end or purpose, and inspired by the land taxation model of Georgism, is envisioned as a city held in a community endowment whose appreciating land value will be used to fund social services such as education, health care, housing and economic opportunity.

There are currently about a dozen such projects underway worldwide, according to Axios, although it remains to be seen how many will come to fruition, with previous efforts having failed to materialize.

This fact brief is responsive to conversations such as this one.
Sources
ExactNetWorth Marc Lore Net Worth: How Rich is the Entrepreneur Actually?
Telosa FAQ
Telosa About
Axios 'Cities of the future,' built from scratch
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The Nevada Independent
The Nevada Independent is a nonpartisan, nonprofit news and opinion website founded in 2017 by veteran political journalist and commentator Jon Ralston. The site and its supporting channels are focused on ethical, unbiased and transparent journalism. In general, we aim to gather and disseminate important public information and increase civic engagement. We are supported by corporate donations, memberships, event ticket sales and sponsorships and foundation grants. We disclose all our members and donors. Donors have no influence over our content, ever. The Nevada Independent is the dba for Nevada News Bureau, Inc., a 501(c)3 nonprofit founded in 2010 by Elizabeth Thompson, who now serves as one of The Nevada Independent's managing directors and its Editor.
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Fact briefs are short, credibly sourced summaries that offer “yes/no” answers in response to claims found online. They rely on publicly available, often primary source data and documents. Fact briefs are created by contributors to Gigafact —a nonprofit project looking to expand participation in fact-checking and protect the democratic process. See all fact briefs here.