Billionaire Elon Musk reportedly plans to build a private airport outside of Austin, Texas, not only for his personal use but also for top executives of his companies.

Daily Mail reported that the conceptual plans had been confirmed for the private airport. Sources told Austonia it would be somewhere east of Austin, near Bastrop.

However, the exact location and schedule of the construction were not revealed. Musk owns several companies in the state of Texas. His companies could also use the planned private airport outside of Austin.

Giga Texas is officially Tesla's headquarters, and it covers 2,500 acres along the Colorado River in southeast Travis County. Another company owned by Musk is called Boring Company, which is located about three miles from the Austin Executive Airport.

Building a new private airport would need approval from the Environmental Protection Agency and Federal Aviation Administration. Musk's representatives have yet to comment on the report about the billionaire building his own private airport.

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Elon Musk's Companies in Texas

Elon Musk's companies also own thousands of acres of land in the state's center, with the Tesla headquarters moving to Texas from Silicon Valley at the end of last year. SpaceX is also located in Texas.

Independent reported that Musk currently uses a 2015 Gulfstream G650 for his travels. However, he has ordered a new private jet for 2023.

Musk announced Tesla's move from Palo Alto, California to Austin, Texas during a 2021 shareholder meeting. The meeting was at Tesla's vehicle assembly plant under construction outside of Austin on a property that borders the Colorado River.

The company plans to ramp up its production in California despite the headquarters move. Musk said at the time that they plan to increase output from Fremont and Giga Nevada by 50%, according to CNBC News.

Musk added that it would take some time to reach full production in the Austin plant even after it is completed. The Tesla CEO had also relocated to the Austin area from Los Angeles, where he used to live for two decades.

California imposes the highest personal income taxes on its wealthy residents, while Texas has no personal income tax. Tesla is not the first company from California to move its headquarters to Texas. The other tech giants who made the same corporate move were Oracle and Hewlett Packard.

Elon Musk Twitter Case

The Tesla CEO countersued Twitter last week after the social platform, and Elon Musk entered a deal regarding the procurement of Twitter.

CNBC News reported that Musk's counter lawsuit is not yet available to the public. Reasons still not known why Musk asked the court to keep details of his lawsuit confidential.

In April, Musk and Twitter announced that the billionaire would buy the social media company for $44 billion. After signing the deal, Musk accused Twitter of lying about the number of spam and bot accounts on its platform, which prompted him to say he wanted to terminate the deal.

Elon Musk backing out of the deal led Twitter to sue him in the Delaware Court of Chancery.

READ MORE: Twitter Net Worth 2022: How Much Is Twitter Valued After Elon Musk Made $43 Billion Offer?

This article is owned by Latin Post.

Written by: Mary Webber

WATCH: Elon Musk Is Building a Private Airport in Texas, Report Suggests - From Ameen Tech Lab