Elon Musk says first tunnel at Los Angeles is complete, will open on December 10

Rank 2 | Elon R Musk | Company: SpaceX and Tesla | Net worth: $136 billion | YTD change: Gain by $108 billion (Image: Reuters)

A company owned by Elon Musk that is trying to lower the cost of building high-speed transit tunnels is nearing completion on the first tunnel, Musk said on Twitter on Sunday.

The first tunnel, under Hawthorne in the Los Angeles area, is almost done and will open on December 10, Musk said.

Privately held Boring Co has been promoting its plans for tunnels that would allow high-speed travel between cities.