The father of the world’s richest man hopes to raise $200 million from a crypto project dubbed “Musk It” to fund a think tank.
Elon Musk’s Controversial Dad Looks to Cash in on Memecoin Feeding Frenzy
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‘Musk It’ Memecoin Endorsed By Elon Musk’s Father
Elon Musk’s father Errol Musk has endorsed ‘Musk It,’ a Solana memecoin that Errol hopes to profit from to the tune of $200 million, so he can fund a think tank, according to reporting from Fortune Magazine.
Musk It was reportedly launched pump-and-dump style by a Middle Eastern company in December 2024 and has since floundered. But now, Errol and his business partner Nathan Browne, a technology consultant, have given it their stamp of approval and the token briefly soared to an all-time high of about $0.09, according to data from Coin Market Cap.
Elon is not associated with Musk It in any way. In fact, the father and son became estranged when the now 79-year-old Errol impregnated his own stepdaughter, Jana Bezuidenhout circa 2017. The older Musk and Bezuidenhout now have two kids together.
“He had a child with Jana, and I said, ‘You’re done, you’re out. I never want to speak to you again,’” Elon said, according to a 2023 autobiography of Elon Musk written by Walter Isaacson. “I haven’t spoken to him since,” Elon said.
In a 2017 Rolling Stone interview, Elon provided a chilling description of his father: “Almost every crime you can possibly think of, he has done. Almost every evil thing you could possibly think of, he has done.”
But the two appear to have patched things up. Errol told Fortune that he had discussed Musk It with Elon as recently as “this month,” and that the token was partly inspired by Elon’s 2023 speech to his staff in which Elon praised his dad when the two reunited at a Space X launch after seven years of alleged estrangement.
Elon himself, though not associated with Musk It, is no stranger to memecoins and crypto. He has shilled Dogecoin for years and is known as the “Dogefather” in the crypto community. His company Tesla (TSLA) holds 9,720 bitcoin ( BTC), currently worth more than $1 billion, in its corporate treasury.
As for Musk It, key details of the token remain sparse. Its purpose, the tokenomics, and the team behind it, all remain unknown. A “coming soon” website exists, but contains no information, only logos of Elon Musk’s companies. Coin Market Cap shows a total supply of one billion tokens, and at the time of reporting, market capitalization was roughly $40 million at a price of approximately $0.04.
Some may accuse Errol of cashing in on his son’s fame, but the father of seven who once said, “The only thing we are on Earth for is to reproduce,” doesn’t appear to have a problem with exploiting the Musk name.
“I’m the head of the family…I’ve been ‘Musking it’ for years,” Errol Musk said.
