Elon Musk, the South African-born billionaire and Tesla CEO, is considering establishing a new university called the “Texas Institute of Technology and Science.”
According to the New York Post, it’s unclear how serious the billionaire is, especially considering Musk’s reputation for joking about on Twitter.
Musk, who is expanding his operations in Texas, used Twitter to announce his new idea, which has a confused acronym.
After tweeting about his initial concept, Musk added, “It will have epic merch” and be “universally admired.”
That didn’t stop people from reacting to the tweet, which propelled the proposed school’s acronym to the top 25 trending list on Twitter in the United States on Friday.
Musk has a history of using raunchy acronyms in his business, such as when he planned the launch of Tesla’s Model S, 3, X, and Y vehicles to spell out S.3.X.Y. on the company’s website.
Musk also replied, “obv,” when a Twitter user inquired if he had secured funding for the university.
Musk’s 2018 tweet in which he declared he had “funding secured” to take Tesla private at $420 (about R7 000) a share sent the stock price soaring and finally led to a settlement between Musk and the Securities and Exchange Commission that was supposed to keep the mega-billionaire off Twitter.
Musk, on the other hand, has been lukewarm. He said last year that colleges are “for fun and to prove that you can do your chores, but they’re not for learning.”
He also stated that Tesla will not have university requirements for jobs, claiming that that is “absurd.”
Meanwhile, while he is thinking about the “Texas Institute of Technology & Science,” Musk’s net worth increased to $288.6 billion (R4.242 trillion) on Monday, according to the Bloomberg Billionaires Index.
With a market cap of R1.14 trillion, Naspers is the largest company in South Africa. With a market cap of R430 billion, Amplats is the second largest. Firstrand (R325 billion), MTN (R255 billion), Vodacom (R251 billion), Standard Bank (R226 billion), and Capitec (R226 billion) are among the top companies (R199 billion).