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Former Walmart executive looking to build $400 billion smart city somewhere in U.S.

Marc Lore
Posted at 4:35 PM, Sep 08, 2021
and last updated 2021-09-08 16:35:08-04

A former Walmart executive is looking to build a $400 billion smart city somewhere in the United States.

Last week, billionaire Marc Lore revealed his plans to build the utopia, Telosa, which would include 150,000 acres and house 5 million people over the next 40 years.

"If you really want to go after a moonshot — you have to start with a big, bold vision, you need to raise the required capital, and surround yourself with the very best people in the world. If you get those three things right, you can do incredible, magical things," Lore said.

Now, he needs to find a place to build it.

According to the project website, they are currently scouting include Nevada, Arizona, Utah, Idaho, Texas, and the “Appalachian region.”

According to the project website, the city will be built in several phases, with the initial phase anticipated to cost over $25 billion and will consist of 50,000 people on 1,500 acres.

Bloomberg reported that the first phase should be completed by 2030.