Former Walmart exec and billionaire Marc Lore is planning to use his fortune to build an entire smart city from scratch. Perhaps his most ambitious business venture yet, Lore expects the city, named Telosa, to rival the population density of San Francisco.
Telosa, which stems from the Ancient Greek word Telos, meaning “highest purpose," is expected to be a first-of-its-kind creation and one that will revolutionize the definition of an American metroplex.
Lore's mission statement for the city of Telosa is to "create a more equitable and sustainable future" that can "become a blueprint for future generations."
Anticipated to house around 5 million people, Telosa will have streets that prioritize bikes and pedestrians, as well as slow-moving autonomous cars – over fossil fuel-dependent vehicles elsewhere.
Design proposals for the $400 billion dollar city also include eco-friendly architecture, sustainable energy production, and a drought-resistant water system.
The official Telosa website lists climate change as a major concern for humanity and hopes to join the fight in reducing carbon emissions moving forward.
Lore stated that Telosa will draw inspiration from different regions of the world in terms of architecture, governance, and lifestyle.
"What we're trying to do is combine some of the best [traits] of different cities in the world and bring it together," said Lore. "So, think of Telosa being as vibrant and diverse as New York City.. combined with efficiency, safety, and cleanliness found in a city like Tokyo..combined with the social services, sustainability, and the governance model of a city like Stockholm."
Lore, who recently purchased the Minnesota Timberwolves alongside former MLB star Alex Rodriguez, wants Telosa to be a shining example of citizen-driven living.
“The mission of Telosa is to create a more equitable, sustainable future. That’s our North Star,” Lore said in a promotional video. “We are going to be the most open, fair, and inclusive city in the world.”
Telosa will require at least $400 billion to construct and Texas is on a shortlist of six potential homes for the new-age city.
Home to the most Fortune 500 companies of any state, Texas makes sense as an ideal candidate to host Telosa.
"Texas is pro-business, and there’s a reason these major corporations are choosing to relocate here. We have one of the largest economies in the world, a lower cost of living, favorable tax rates, fewer regulations, and access to top-tier talent," said Ed Curtis, CEO of YTexas.
Tech companies from all around the globe have been migrating to Texas in droves and the futuristic build of Telosa would fit right in with the new tech-driven climate being formed in the Lone Star State.
Further west, Nevada is another strong candidate to host the $400 billion dollar city.
Nevada has taken a small step into purpose-built smart cities. Gov. Steve Sisolak has proposed a bill that would allow technology companies to establish innovation zones that function in part as a local government that supports resident housing, schools, retail, transportation, power generation and health care facilities and fosters economic development in emerging technology industries.
Location scouting is currently underway for 1,500 acres of land in the Southwest, with plans to eventually expand to 150,000 acres.
Telosa plans to accept its first wave of settlers, roughly 50,000 residents, by the year 2030, so the city will essentially be built in the blink of an eye once a location is selected.