Sleek renderings imagine plenty of space for pedestrians to stroll in the lush metropolis, and include images of planes and other aircrafts that appear to be from Archer Aviation, the electric “air taxi” startup in which Lore is an investor.Īnother image on the site shows a skyscraper called Equitism tower that houses elevated water storage, aeroponic farms and an energy-producing roof. In June, Lore hired Copenhagen-based architectural firm Bjarke Ingels Group to design the city. Telosa’s goal is to close the ever-expanding wealth gap, by allowing citizens to give back to the community in various ways. The project’s planners have yet to commit to a location, but the website identifies Nevada, Utah, Idaho, Arizona, Texas and the Appalachian region as possible sites. Over 40 years, the city will eventually require $400 billion in funding and grow to house as many as 5 million people across 150,000 acres, the site says. The initial phase of the project, targeted for completion by 2030, would be built to accommodate 50,000 residents across roughly 1,500 acres at a cost of $25 billion, Businessweek reported. “While the current economic system is a growth engine, it has led to increasing inequality,” the project’s website explains. The city is meant to take on what Lore views as the United States’ biggest challenge - the rapidly growing wealth gap, which he said “is going to bring down America.” Marc Lore has said that his grand vision will incorporate the idea of Equitism. “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!” “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,” Lore told Bloomberg Businessweek. Former Walmart executive Billionaire Marc Lore envisions a new “woke” city named Telosa. Residents, in turn, own their homes on the land and are enriched as home values increase, according to the project’s site, and after a period of “hyper-growth,” residents can buy the land from the community endowment. Key to the city’s plans is Lore’s economic vision, called “Equitism,” in which the land upon which the city is built will be donated to a community endowment.
“We are going to be the most open, the most fair and the most inclusive city in the world.” That’s our North Star,” Lore said in a promotional video. “The mission of Telosa is to create a more equitable, sustainable future. Lore last week unveiled plans for his utopia, called Telosa, from the ancient Greek word Telos, meaning “highest purpose.” Jet.com founder looks to revolutionize the food delivery industryīillionaire Marc Lore’s woke city will screen ‘settlers’ for diversityĪ-Rod, angry over losing the Mets, dribbles past JPMorganĪ-Rod, Dave Portnoy and an e-commerce tycoon are all pouring money into one companyįormer Walmart executive and e-commerce billionaire Marc Lore wants to build the world’s first woke city from scratch - somewhere in the US.
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