Errol Musk, father of Tech Billionaire and Founder of Tesla has endorsed a Solana Memecoin “MUSK IT”. he hopes will raise $200 million on his behalf for a Think Tank.
The Father of the richest man on the planet is backing a memecoin known as “Musk IT” and is hoping the project will do well without the active participation of his Son.
The proceeds of the proposed memecoin would go to a for-profit think tank called the Musk Institute.
Errol Musk discussed the memecoin in an interview with Fortune Magazine where stated that he is unbothered by critics who believe the memecoin is riding on the fame of his son Elon.
“I’m the head of the family,” he said. “It really started with me in our family — I’ve been ‘Musking It’ for years,” Errol stated.
Errol’s “Musk IT” memecoin comes weeks after the President-Elect, Now President, launched his official memecoin “TRUMP” days before his inauguration.
498% Surge in the Past 24 hours
The “Musk IT” memecoin by Errol Musk was launched in December 2024 by a Middle Eastern-based crypto company. The memecoin flew under the radar following its launch and just started trending after the Fortune Interview with Errol Musk.
The memecoin is currently exchanging hands for $0.065, surging by a whopping 498% in the last 24 hours.
The Solana memecoin is up 334% in the last 7 days and 81% on a 30-day scale.
Like Father Like Son
Errol’s active participation in cryptocurrencies comes full circle as his son Elon has been actively involved with the space since the early days of Dogecoin.
Elon Musk was a heavy supporter of the “Dogecoin” memecoin in its early days.
He stopped public support for the memecoin after he faced a lawsuit when the memecoin lost 80% of its price value.
Musk Junior has continued to shill Dogecoin using cryptic means. The latest is a photo of the Dogecoin memecoin on the official website of the Department of Government Efficiency during its unveiling.
Errol Musk is a South African electromechanical engineer, property developer, and former pilot.
Errol was married to Maye Musk, a model and dietitian, with whom he had three children: Elon, Kimbal, and Tosca Musk.
He gained public attention due to his strained relationship with Elon and his controversial personal life. Errol has been involved in several business ventures, including mining and real estate, and was once a co-owner of an emerald mine in Zambia.
His involvement in crypto and plan to fund an institute with its proceeds serve as a good example of memecoins being used for the public good.
