Billionaire Marc Lore has unveiled plans to build a brand new, sustainable city – otherwise known as the City of Telosa. So, who is Marc Lore and what can we expect to see from him in the future?
Telosa is reportedly being designed with sustainability at the forefront, promoting a low impact on the environment.
Who is Marc Lore?
Billionaire Marc Lore is the mastermind behind the City of Telosa – but more on that later.
Formerly the President & CEO of Walmart’s e-commerce division from 2016 to 2021, Lore has taken on a wealth of business ventures, earning the title of serial entrepreneur. The 50-year-old also served as the CEO and co-founder of Quidsi, alongside the CEO and co-founder of Jet.com.
If that’s not impressive enough, Marc owns the NBA team the Minnesota Timberwolves, and the WNBA team the Minnesota Lynx. Talk about making money moves.
In between all of that, Lore has somehow managed to cook up a new venture that involves creating a brand new community.
Outside of the business world, Marc has two young daughters, Sierra and Sophia, with his wife, Carolyn.
Marc Lore’s net worth explored
Marc Lore’s net worth is guaranteed to be a lot. It seems as though he has been CEO of just about every company ever!
According to this source, Lore’s net worth, as of 2021, is a hefty estimated amount of $4 billion.
Some of that value could amount from his sale of Quidsi, which he sold to Amazon for $545M in 2011!
What is the City of Telosa?
In latest news, Marc Lore and European architect Bjarke Ingels are set to construct a brand new community: the City of Telosa.
The city website states: “Over 80 percent of people in the United States live in metropolitan areas — which are also the source of over 90 percent of the economic activity of the U.S. and have become important hubs for higher education, research, science, and technology. A new city built from scratch avoids the legacy issues of infrastructure and policies that constrain and restrict what can be developed.
“The clean slate allows the opportunity to redesign a city with the needs of people at the center. We benefit from the knowledge, innovation and expertise that has been learned since other cities were built in the US. We can build the most sustainable and resilient city that will serve as a model helping residents in existing cities along the way.”
A space for the new city is yet to be decided, but it is likely to be built somewhere in the Appalachian Region, Arizona, Idaho, Nevada, Texas, or Utah.
Further details are currently pretty sparse, given the fact that the city is still in the planning stage, but we do know that anyone can move there. The website reassures the public that Telosa is not a private city.
Read more about the city via the official website here.