A new $490-million proposal backed by the Eli and Edythe Broad Foundation aims to create 260 new charter schools, enough to enroll half of the city’s students over the next eight years, according to the Los Angeles Times, which got a copy of the report. The report names potential donors who could help fund the effort, including billionaires Stewart and Lynda Resnick, David Geffen and Elon Musk. The plan says the Los Angeles Unified School District has chronically failed students. Of course, school officials and unions are criticizing the plan.