Elon Musk, the world’s richest man, has predicted that money will be obsolete in a decade owing to evolving tremendous technical breakthroughs.
He said, “Money won’t matter in 2036,” Musk told The Economist in an interview, saying Artificial intelligence and robots are increasingly doing the work.
“If robots and AI are providing more goods and services than any human could consume, what do you need money for in that case?” he queried.
Asked about how society will adapt to widespread AI-driven job displacement over the next decade, the Tesla and SpaceX chief envisioned a system of “universal high income.”
He projected that China will ultimately lead the AI race once its computational capacity expands, emphasizing that Chinese firms are already achieving impressive results despite limited hardware access.
Musk also admitted that he became “a little too involved in politics” and “got carried away” during his participation in President Donald Trump’s campaign in the 2024 U.S. presidential election.
Days after his re-election, Donald Trump appointed Elon Musk, 55, as a senior adviser and co-head of the Department of Government Efficiency (DOGE), which is scheduled to end operations on July 4, 2026.
Musk said DOGE was created to ensure public funds were spent responsibly and not lost to fraud. “I got a lot of flak from this,” the billionaire admitted.
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Backstory…
The world’s richest man Musk’s prediction comes as advances in artificial intelligence continue to reshape global conversations about the future of work, wealth and economic systems.
The billionaire entrepreneur has repeatedly argued that AI and humanoid robots will eventually perform most human labour more efficiently than people, creating an era of unprecedented productivity.
Over the past few years, Musk has warned that governments and businesses must begin preparing for a future in which traditional employment may no longer be the primary source of income for millions of people.
