As we've mentioned before, the hyperloop is a high-speed, train-in-a-tube transportation system – think 4,000 miles per hour. Musk has released a 57-page document outlining how it might work.
The billionaire entrepreneur, as is his wont, took to Twitter to make the announcement. We note that he does use the qualifier "probably" in his statement, which leads us to believe he is expecting something in return for the unique investment. In lieu of an official press release, we leave you with his Tweetings outlining his proposals:
Will be building a Hyperloop test track for companies and student teams to test out their pods. Most likely in Texas.- Elon Musk (@elonmusk) January 15, 2015
Also thinking of having an annual student Hyperloop pod racer competition, like Formula SAE http://t.co/HV9BLCoMb8- Elon Musk (@elonmusk) January 15, 2015