Elon Musk has hinted that he might soon come up with an idea of building a new social media platform.

While replying to a user named Pranay Pothole on Twitter, who asked if Musk would consider building a new social media platform, Musk said he is thinking about it.

"Am giving serious thought to this," Musk wrote on the micro-blogging site.

In another Twitter poll, Musk asked "do you believe Twitter rigorously adheres to this principle?" and at least "70 per cent" of respondents said "no".

"Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?" Musk wrote in a response to the poll result.

He also asked users "is a new platform needed?"

This month, a study said that the Tesla CEO could become the first person to ever accumulate a $1 trillion net worth, and it could happen as soon as 2024.

Musk is currently said to be the richest person in the world, overtaking former Amazon CEO Jeff Bezos last year to claim the title.