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Billionaire Reveals Plans To Create $400 Billion Sustainable City In Desert

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Billionaire Reveals Plans To Create $400 Billion Sustainable City In Desert

A billionaire has revealed his plans to create the 'most fair and inclusive' city. You can check out a promotional video for project here:

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Entrepreneur Marc Lore has shared his vision for his utopia Telosa - a name derived from the Greek word Telos, meaning 'highest purpose'.

Talking about his plans, he said: "The mission of Telosa is to create a more equitable, sustainable future. That's our North Star.

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"We are going to be the most open, the most fair and the most inclusive city in the world."

Lore says his city will run its economy using 'Equitisim', in which the land the city is built on will be given back to a community endowment.

Telosa's residents own their homes and will eventually be able to buy land from the community.

Credit: cityoftelosa.com
Credit: cityoftelosa.com
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Artists' renderings of how the city will look show futuristic looking streets, where bikes and pedestrians are 'prioritised', according to the project's website.

Speaking to Bloomberg Businessweek, Lore said: "If you went into the desert where the land was worth nothing, or very little, and you created a foundation that owned the land, and people moved there and tax dollars built infrastructure and we built one of the greatest cities in the world, the foundation could be worth a trillion dollars.

"And if the foundation's mission was to take the appreciation of the land and give it back to the citizens in the form of medicine, education, affordable housing, social services: Wow, that's it!"

Lore thinks his city will enable its residents to tackle the issue of the US's growing wealth gap, which he believes is 'going to bring down America'.

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Credit: cityoftelosa.com
Credit: cityoftelosa.com
Credit: cityoftelosa.com
Credit: cityoftelosa.com

The first phase of the plan is set to be completed by 2030 and will allow 50,000 residents to live on around 1,500 acres of land at a cost of $25 billion (£18bn).

Over the next four decades, the city will grow to 150,000 acres with up to five million residents - to achieve this Telosa will need $400 billion (£290bn) in funding.

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As yet, the city's planners haven't revealed a location, but the Telosa website has said planners are eyeing up sites in Nevada, Utah, Idaho, Arizona, Texas and the Appalachian region.

Featured Image Credit: cityoftelosa.com

Topics: Interesting, US News

Claire Reid
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