Zappos’ CEO Tony Hsieh is a man who puts his money in his visions.
The enterprising billionaire who put up $350 million of his own money in 2010 has big plans to reinvent downtown Las Vegas. The initiative is called the Downtown Project.
Hsieh wants it to be a haven for forward-thinking entrepreneurs and a corporate campus of sorts for thousands of Zappos’ employees.
However, the project is not just about building the largest corporate city to date. Hsieh also is working closely with city planners and other key players of the city to ensure a directional movement that will benefit the entire community. This will be a slow-moving development, as it could take as 20 years for it to come to fruition.
The fund is split as follows: $200 million for investments in real estate, $50 million for health, culture, and education initiatives in Las Vegas, $50 million for tech startups, and the remaining $50 million for small businesses. Hsieh has tasked a dozen or so employees to flesh out ideas for the Downtown Project — many of whom are taking a hiatus of sorts from Zappos.