The world’s richest man, Elon Musk, has forecast that money will be insignificant in a decade due to evolving powerful technological innovations.
“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 his opinion on how people will live after losing their jobs to AI in 10 years, the Tesla and SpaceX CEO replied, “Universal high income.”
He believes there’s a good chance that China will dominate AI when it has a lot of compute, noting that Chinese companies are doing well even with a small amount of compute.
Musk, however, admitted he got “a little too involved in politics” and “got carried away,” referencing his participation in the 2024 United States election won by President Donald Trump.
Days after his re-election, Trump appointed 55-year-old Musk as a senior advisor and co-head of the Department of Government Efficiency, which ceased operation on July 4, 2026.
Musk reiterated that the goal of DOGE was to ensure money is spent in sensible ways and not expended on fraudulent activities. “I got a lot of flak from this,” the billionaire said.