Elon Musk Claims Poverty Will Disappear and Saving Money Won’t Be Necessary in the AI Era
Elon Musk, CEO of Tesla and SpaceX, has once again shared a provocative vision of humanity’s future, suggesting that poverty will eventually disappear and people will no longer need to worry about saving money. His remarks quickly sparked widespread debate across social media, as they directly challenge long-standing beliefs about work, financial planning, and economic survival that have shaped modern society for decades.
Musk’s comments emerged during a discussion on X, where he replied to a post by renowned global investor Ray Dalio. Dalio was discussing the concept of “Trump accounts,” a proposal aimed at helping young Americans learn about finance and begin investing at an early age. While Musk acknowledged that the initiative was well-intentioned, he argued that such financial preparation may become unnecessary in the future, as poverty itself would no longer exist.
According to Musk, humanity is heading toward what he calls “Universal High Income,” a concept he distinguishes from the more familiar idea of Universal Basic Income. Rather than providing only the minimum amount needed to survive, Musk envisions a future where everyone earns enough to live comfortably. In this scenario, people would no longer be burdened by everyday financial stress or constant concerns about covering basic living expenses.
The core of this ambitious vision lies in the rapid advancement of technology. Musk believes that artificial intelligence and robotics will take over the majority of human labor, dramatically increasing productivity while slashing production costs. As a result, goods and services would become far cheaper and more accessible than at any point in human history, fundamentally reshaping global economic structures.
From Musk’s perspective, work may no longer be a necessity for survival but rather a personal choice. People could choose to work out of passion, curiosity, or creative fulfillment instead of economic pressure. In a world where everyone has sufficient income, saving money as a safeguard against future uncertainty may no longer be essential in the way it is today.
However, many experts remain skeptical of this optimistic outlook. Critics argue that technology alone cannot fully resolve issues such as inequality, fair resource distribution, and systemic economic imbalances. They emphasize that large-scale policy reforms and structural changes would still be required to ensure that the benefits of AI and automation are shared equitably across societies.
Even so, Musk’s statements have reignited important conversations about the future of work, money, and human well-being in an AI-driven world. While his vision may still reside in the realm of speculation, it challenges people to reconsider how technology could redefine economic systems and quality of life in the decades to come.
Source: Financial Express
