An article in the Washington Post article from yesterday said that they think the construction budget will be about $850 million. As others noted, they plan to have 10,000 students with a minimum requirement of 1400 on the SAT. The Post article also said that they plan to refuse government aid for faculty or students.
Does that mean that the students won’t be able to get government guaranteed student loans? If so, then good luck to them, but I doubt the plan will be successful. Students of that caliber should be able to get a good amount in scholarships from schools with an established reputation.
The $850 million construction budget is enormous enough as it is. You could probably get an existing university renamed for whomever you want if you just handed over that much money. Actually, many universities would be willing to rename an entire department or school for a tenth of that amount, or $85 million. (For example, in 1988, New York University received a gift of $30 million from Leonard N. Stern, after which they renamed the business school for him.)