Errol Musk Launches 'Musk It' Memecoin, Further Fraying Relationship With Son Elon

The senior Musk, though, says he has no qualms about monetizing his name on a memecoin that many would-be buyers will inevitably associate with his famous son.

Errol Musk, father of tech mogul Elon Musk, is launching a cryptocurrency called Musk It memecoin, despite his son's reported lack of involvement in the project.

Errol Musk and Nathan Browne, who are partnering on a think tank called the Musk Institute, have approved the name of the memecoin, CoinDesk reported Wednesday. The cryptocurrency, which was launched by a Middle Eastern crypto company in December, is reportedly named after a phrase that Errol Musk uses frequently.

Errol Musk told Fortune in an interview this week that he and Browne decided to partner on the memecoin after coming up with the idea for the Musk Institute late last year and are now ready to publicly endorse the cryptocurrency.

“I’m the head of the family,” Errol Musk told Fortune over a video call from his home in Cape Town, South Africa. “It really started with me in our family – I’ve been ‘Musking It’ for years.”

While cryptocurrency projects typically release detailed “tokenomics” to explain their funding and how the tokens will be distributed, there is little public information about Musk It. Errol Musk and Browne have offered few additional details.

Representatives for Elon and Kimbal Musk did not respond to a request for comment from CoinDesk.

Errol Musk, who is known for his entrepreneurial ventures and strained relationship with his son, told Fortune that his decision to launch a “Musk” token could further fray his relationship with Elon Musk.

When asked about a characterization in Elon Musk's biography that he was sometimes “possessed by fantasies and conspiracies” during Elon's childhood and described his relationship with his son as estranged, Errol Musk told Fortune the book was “absolute rubbish.”

He claimed he has recently spent time with both Elon and his other son, Kimbal, and emphasized that neither is involved with the cryptocurrency or think tank, according to the report.

Elon and Errol Musk

Elon Musk, who runs Tesla, SpaceX and X among other companies, has referenced his father's influence on him in the past.

The son of a cryptographer and military intelligence officer, Errol Musk studied engineering before working on building hotels and factories. He also pursued careers in politics and emerald importing, according to Walter Isaacson's biography of Elon Musk.

Isaacson also describes the emotional “scars” that Errol imparted on Elon during his childhood, including alleged verbal abuse of his sons and physical abuse of his ex-wife and Elon's mother, Maye. Maye has spoken publicly about the abuse but did not respond to a request from Fortune for comment. Errol has denied the claims.

According to Isaacson, Errol's relationship with his sons became estranged after he impregnated his stepdaughter, Jana.

“I was actually slowly making amends with my father,” Kimbal told Isaacson, “but then he had a child with Jana, and I said, ‘You’re done, you’re out. I never want to speak to you again.’ And I haven’t spoken to him since.”

Isaacson writes that Errol Musk is a “charismatic fantasist who to this day bedevils Elon.” Their often tumultuous relationship has been referenced by Elon himself, who told Rolling Stone in 2017 that Errol was “such a terrible human being” who “will have a carefully thought-out plan of evil.”

In the biography, which was published in September 2023, Isaacson wrote that they are estranged, with Elon taking active steps to cut off contact.

Errol denied the claims, telling Fortune that his decision to launch Musk It coin was in part inspired by his son inviting him to a SpaceX launch in late 2023, where Elon told the assembled staff that his father “taught me everything I know about engineering.” (This anecdote has not been confirmed by Elon, but the reunion was reported by The Sun.)

After Errol's interview with Fortune, his business partner on the Musk Institute and memecoin, Nathan Browne, forwarded a lengthy email written by Errol disputing allegations from the Isaacson biography and other media reports, including that he is estranged from his children and that he physically abused Maye.

Errol claims he and his son had a call earlier this month where Elon inquired about the project after seeing previous media reports, but Errol assured him that he was carrying out the plans on his own.

Errol told Fortune his goal for Musk It is to advance his own scientific interests, including flying vehicles, by using the cryptocurrency’s proceeds to fund the Musk Institute. (“We need to go beyond rockets,” Errol argued.) Elon Musk did not respond to an inquiry about whether he had knowledge of the memecoin launch.

Musk It memecoin

Errol said that he came up with the idea for the Musk Institute in December while visiting with organizations in the United Arab Emirates, including “men and women of nobility across several of the emirates,” according to Errol's spokesperson.