CandleFocus Elon Musk’s father plans to raise up to $200 million with ‘Musk It’ meme coin to fund new think tank
2025-01-31
Author: Content Editor
Errol Musk, father of Elon Musk, plans to raise $150 million to $200 million through a meme coin called "Musk It" in order to fund a new for-profit think tank called the "Musk Institute." The think tank will focus on engineering projects beyond rocket technology. The "Musk It" token's market capitalization has reached around $23 million following this news, with its value experiencing significant volatility. Concerns have been raised due to the lack of detailed information about the project, including its structure and tokenomics. Elon Musk has not endorsed or participated in the project, according to Errol Musk.
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