"It's pretty obvious that comedy is the next frontier after electric vehicles, space exploration, and brain-computer interfaces", said Musk, 46. "Don't know how anyone's not seeing this".
Jokes aside, there could be something to what Musk is referring to in his tweets.
After an initial cryptic tweet that simply said "Thud!", Musk followed it up with the announcement in a second tweet, saying, "That's the name of my new intergalactic media empire, exclamation point optional".
Musk has always been a fan of "The Onion" and even considered buying the company in 2014, sources told The Daily Beast.
Elon Musk continues his quest for global domination with the announcement of a new media company, Thud, and has hired The Onion's former editor-in-chief Cole Bolton and executive editor Ben Berkley.
Bolton and Berkley have since started working in Los Angeles on the Musk project.
The tech billionaire has enlisted the help of former "The Onion" Editor-In-Chief Cole Bolton and Executive Editor Ben Berkley, who both left the satirical news publication previous year, and has since added three of the site's writers and an editor to the team, The Daily Beast reported.
Sources told the Daily Beast that the project may be another written satirical news publication or website and that Musk would not have editorial oversight or be involved in the day-to-day operations. The South African-born entrepeneur, who as of 2016 had an estimated net worth of around £6 billion, also owns neuro-technology company Neuralink and space travel business SpaceX.