Elon Musk’s dad is promoting a memecoin that capitalizes on the family name to raise upto $200 million for various engineering projects, despite the father-son duo apparently being estranged.
Errol Musk, alongside business partner Nathan Browne, will officially back the “MUSK IT” token with the ambitious goal of establishing the Musk Institute, a new for-profit think tank that Errol aims to spearhead, per Fortune.
The Musk Institute plans to “go beyond rockets” and build flying vehicles and other scientific pursuits. It is unclear how Elon Musk will be involved in this, if at all.
“I’m the head of the family. It really started with me in our family—I’ve been ‘Musking It’ for years,” he told Fortune, dismissing any concerns about leveraging his surname for this project.
The Musk Institute plans to collaborate with nobility in the UAE to foster innovative engineering projects, though specifics on timelines or project…
