According to reports, billionaire Elon Musk's father Errol Musk also wants to catch up with the latest celebrity coin offering trend led by Trump, launching the Musk It token ($MUSKIT) and raising about $200 million to support a for-profit think tank.
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ToggleErrol Musk has been married three times and has abused Musk's mother
Errol Musk is the father of Elon Musk, and is himself a mining magnate, businessman and politician. He served as a city councilor in the administrative capital of South Africa in the 1980s, and also worked in engineering-related fields and owned an emerald mine. However, Elon Musk's mother, Maye Musk, described the relationship as abusive, stating in her memoir that Errol Musk had a tendency towards violence. Errol Musk has been married three times and has seven children. Elon Musk is his eldest son.
Errol Musk plans to raise $200 million from memecoins to support a for-profit think tank
On the eve of the U.S. presidential inauguration, Trump and the incoming First Lady Melania have been launching coins in succession. Even billionaire Mark Cuban has expressed interest in issuing a meme coin. And Errol Musk has also caught wind of this trend. Foreign media reports that he is considering launching his own meme coin, called Musk It ($MUSKIT).
According to a report in Fortune magazine, Errol Musk plans to raise $200 million from the meme coin to fund a for-profit think tank called the Musk Institute.
However, the report also points out that a Middle Eastern cryptocurrency company quietly launched the Musk It token on Pump.fun on December 12, 2024. The token surged over 400% on the news that day.
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