Billionaire looks to Texas as a possible location for proposed $400B sustainable city
8 Sep 2021
Texas is on the short list for a new $400 billion smart city proposed by a former Walmart executive.
Billionaire Marc Lore released plans Sept. 1 for Telosa, a proposed sustainable city that would consist of 150,000 acres, roughly 234 square miles, with 5 million people over 40 years. His team has not raised the money yet to execute the project, which is envisioned to yield a city with a population density comparable to San Francisco.
Lore’s proposed smart city is also looking at other states such as Arizona, Utah, Idaho and Nevada and the Appalachian region, according to the company’s website. Lore is a co-founder of Diapers.com and was president and CEO of Walmart U.S. eCommerce until January 2021. He also purchased the Minnesota Timberwolves and Minnesota Lynx with his business partner Alex Rodriguez and started and sold four companies, including Jet.com, according to the Telosa website.