Elon Musk’s father Errol Musk has become the latest figure to hop on the meme coin bandwagon, announcing his involvement with a meme coin project called “Musk It.” Musk It is a Solana-based meme coin. Errol hopes to raise at least $150-$200 million for a think tank, the Musk Institute Errol Musk Promotes Meme Coin Errol Musk has announced his involvement with a Solana-based meme coin, Musk It (MUSKIT). Errol hopes to raise between $150 and $200 million to support a for-profit think tank, the Musk Institute. Errol stated in an interview he was not bothered by people who believe the meme coin has been rising on his son Elon Musk’s name and fame stating, “I’m the head of the family. It really started with me in our family—I’ve been ‘Musking It’ for years.” Musk It was originally launched in a pump-and-dump style token by a Middle Eastern company in December 2024, with its price declining rapidly since its launch. However, with Errol and his business partner, technology consultant Nathan Browne, giving the token their stamp of approval, its value soared to an all-time high of $0.09. Browne stated that one of the conditions for joining the project was ensuring it could not be a pump-and-dump. However, Musk Its financial structure and tokenomics remain vague, with no clear roadmap or breakdown. While meme coins are prone to volatility and rapid price drops, Errol has stated the token has a significant purpose: to fund the Musk Institute. Errol envisions the Musk Institute as a hub for innovative engineering projects like flying cars. While his son Elon has spent decades perfecting rocket technology to turn humanity into a multi-planetary species, Errol believes rockets are not the final frontier. “We need to go beyond rockets.” A Complicated Relationship While Errol’s meme token uses the Musk name, Elon Musk has no involvement with the project. Errol Musk has been described by his biographer as a “charismatic fantasist” whose presence “bedevils” Elon. Errol and Elon’s relationship has soured over the years with Elon accusing his father of being a terrible human being, claiming that “almost every possible crime you can possibly think of, he has done.” However, Errol has disputed this characterization and claimed Elon recently inquired about Musk It after reading about it in media reports. Elon Musk And Meme Coins Elon Musk is no stranger to meme coins. However, he has never launched his own token. He has been associated with Dogecoin (DOGE) and has even integrated DOGE payments into Tesla’s online store. Despite his long association with DOGE, Musk has refused to release a token bearing his name, unlike several celebrities and US President Donald Trump. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
