A billionaire wants to build a brand new city in the American desert - The Hustle
The Hustle

A billionaire wants to build a brand new city in the American desert

Can a billionaire make a single-tax, sustainable city in the desert work?

This is not the plot of a new Netflix sci-fi series.

Ex-Walmart executive Marc Lore recently announced plans to build Telosa — a sustainable, pedestrian-friendly, $400B city to be designed by Danish architect Bjarke Ingels somewhere in the western US, per Dezeen.

Here’s the plan:

1. Lore buys a chunk of empty desert land, then donates it to a community endowment.

2. Telosa keeps the land, while residents pay ground leases to rent it.

3.That income, plus appreciation, funds the city and services like education and health care.

Telosa’s goal is to receive its 1st residents in 2030 and expand to 150k acres and 5m residents over the next 40 years.

Features include:

Though Telosa’s a long way off…

… the concept isn’t new. It’s based on economist Henry George’s Progress and Poverty (1879), which spawned the “Single-Tax” movement, now known as Georgism.

Under Georgism, citizens pay a single tax to rent land, but aren’t taxed on improvements to the land, income, or labor.

Some much smaller Georgist communities still exist:

Fun fact: “Telosa” is derived from an ancient Greek word for “highest purpose.”

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