Elon Musk’s Father Errol Plans to Raise $150M-$200M with Musk It Meme Coin

14 February 2025 Move2earn Digest

Errol Musk plans to raise $150M–$200M through “Musk It” token to fund a for-profit think tank, Musk Institute.

Musk It surged 1780% after Errol’s endorsement, but skepticism remains due to unclear roadmap and memecoin volatility.

Elon Musk has no involvement in Musk It and previously called Errol a “terrible human being” in his biography.

Errol Musk, the father of billionaire entrepreneur , is planning to raise between $150 million and $200 million through a digital token named “Musk It”. Partnering with tech consultant Nathan Browne, Errol Musk aims to use the proceeds to fund a new for-profit think tank called the Musk Institute.

According to Fortune, Errol Musk, father of Tesla CEO Elon Musk, hopes to raise $150 million to $200 million through a token project called “Musk LT.” He said he had no qualms about using his name to make money on the “memecoin,” which many potential buyers would associate with…

Despite his son’s deep involvement in technology and finance, Elon Musk has stayed away from launching a cryptocurrency bearing his name. Errol, however, has no reservations about leveraging the Musk brand for his project.

“I’m the head of the family. It really started with me in our family — I’ve been ‘Musking It’ for years,” Errol Fortune from his Cape Town home.

The Musk It token was initially launched in December by a Middle Eastern-based crypto firm, though it attracted little attention at the time. Errol Musk and Browne later endorsed the token after forming plans for the Musk Institute. The institute, according to them, will focus on engineering projects, including the development of flying vehicles.

Musk It Soars 1780% — Is Musk It the Next Pump and Dump?

Memecoins remain a volatile yet widely traded segment of cryptocurrency, often driven by internet culture rather than tangible assets. Many tokens surge in value before collapsing, leaving investors at a loss. While Errol Musk insists that Musk It is not a “pump and dump” scheme, skepticism remains due to the lack of a clear roadmap or tokenomics.

Source: CoinMarketCap

According to , Musk It (MUSKIT) impressively surged 1780% after the Errol announcement. The token currently has a self-reported market capitalization of nearly $26 million. However, no additional financial or technical details have been disclosed. Browne stated that their primary condition before aligning with the token was ensuring it wouldn’t become a quick-profit scheme.

Even with Errol Musk’s endorsement, the project’s vague structure and the speculative nature of meme coins make it a risky venture. Cryptocurrency investors have seen numerous tokens collapse overnight, and Musk It could follow a similar fate if it fails to gain traction.

Elon Musk Calls His Father a “Terrible Human Being”

The Musk name carries significant weight, but it also comes with its complications. Errol Musk and his son Elon have a well-documented turbulent history. Walter Isaacson’s biography of Elon Musk describes Errol as a “charismatic fantasist” whose relationship with his son has been strained for years. The book also Elon once, referring to his father as “such a terrible human being” with “a carefully thought-out plan of evil”.

Errol, however, dismissed the claims, calling the biography “absolute rubbish”. He insisted that he maintains a connection with his children and even attended a SpaceX launch in late 2023, where Elon allegedly credited him for teaching him engineering. While this anecdote was by The Sun, Elon Musk has not publicly confirmed it.

The tension between the two could deepen with the launch of Musk It. Many investors might assume Elon has a stake in the project, which he does not. Errol Musk stated that Elon inquired about the project earlier this month but emphasized that he is pursuing the venture independently.