Is Tesla CEO Elon Musk building new private airport outside this city?

According to media reports, Tesla CEO Elon Musk may get to build his private airport outside of Austin, Texas.

As per sources, Musk is developing plans for a new private airport, Teslarati reported citing Austonia.

While not much is known about the timing or even the exact location, sources claim that the conceptual plans have been confirmed.

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The airport will be somewhere east of Austin near Bastrop, Texas.

Why will Elon Musk build a private airport?

A private airport would be helpful for Musk and his companies, especially since three of them have a presence in Austin. Tesla relocated its global headquarters in Austin and so did The Boring Company, the report said.

It is not known how much space the CEO would need for a private airport; however the Austin Executive Airport has over 130,000 square feet of community hangar space. It also has a 6,025-foot runway.

The report mentioned that building an airport is not going to be an instant thing. Airports require both EPA and FAA approvals.

Meanwhile, Tesla reported $16.9 billion in revenue for the second quarter, down from $18.8 billion in the first quarter this year.

Tesla reported $2.3 billion in second-quarter profit, below its record quarterly profit of $3.3 billion in the first quarter this year.