Now, Tesla and SpaceX founder Elon Musk wants to set up a new university called "Texas Institute of Technology & Science" that abbreviates to 'TITS'. Yes, you read that right. 

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Musk on Friday announced on Twitter that he is thinking of starting a new university: Texas Institute of Technology & Science. He followed up with a tweet: "It will have epic merch."

Well, that's quite a pun and netizens can't keep calm.

A Twitterati reminded Musk's earlier comments about university education, when he claimed education may not amount to skill and/or knowledge.

Another asked why not name it Tesla Institute of Technology, Teaching, Innovation, Education, & Sciences?

Meanwhile, on Monday, Musk, the world's wealthiest person and the CEO of big businesses such as SpaceX and Tesla, witnessed his net wealth rise by $36.2 billion (Rs 2.71 lakh crore) on when Hertz Global Holdings placed an order for 100,000 Teslas. With electric cars, Tesla is speeding up the world's shift to renewable power.

According to Reuters calculations, Tesla's stock rose 14.9% to $1,045.02, making the company the world's biggest automobile manufacturer.