As it turns out, the hat is part of a fundraising campaign for The Boring Company - Musk's latest business venture aiming to find a solution for gridlock.
"To solve the problem of soul-destroying traffic, roads must go 3D, which means either flying cars or tunnels," The Boring Company's website states.
"Unlike flying cars, tunnels are weatherproof, out of sight and won't fall on your head." With $A2.5 trillion needed for the project, Musk is hoping to sell a lot of hats.
And if all else fails, maybe he can expand the business.
