Elon Musk to launch groundbreaking science institute in Dubai with $1 billion investment

Errol Musk, Elon’s father and the original proponent of the idea, revealed that the concept was envisioned in the early 2000s following the creation of SpaceX. However, it is only now that a comprehensive roadmap has been developed for its realization.

Construction of the institute is scheduled to begin in 2025 – fully funded by Elon Musk’s personal wealth, which exceeds $460 billion. The state-of-the-art facility will feature three floors of advanced laboratories and classrooms, designed to support researchers and students.

Alongside the institute, Errol Musk also introduced the 'Musk Prize' – an ambitious initiative meant to rival the Nobel Prize. The award aims to encourage global scientific achievement while positioning the UAE as a leader in research and innovation.