Elon Musk has once again projected a future shaped by artificial intelligence and robotics, claiming that poverty will be eliminated and the need to save money will disappear. The Tesla and SpaceX CEO made the remarks on X in response to billionaire investor Ray Dalio, who praised a new savings initiative for young Americans known as “Trump accounts.”
The Trump accounts, introduced under recent legislation and gaining bipartisan interest, aim to create government-seeded investment accounts for children born between 2025 and 2028. Designed to encourage early savings and long-term financial literacy, the program has attracted support from Dalio, the Dells, and other philanthropic and policy leaders.
But Musk’s comments suggest a different economic outlook. He envisions a world where AI and automation replace the need for most forms of labor, leading to abundance and dramatically reduced costs for goods and services. In such a scenario, income would be distributed universally, freeing people from the traditional demands of work and saving.
Musk has floated the idea of universal basic income before, but his use of the term “universal high income” marks an even more optimistic — and controversial — evolution. Critics argue the timeline and feasibility of such a future remain speculative, especially as regulatory frameworks and social safety nets lag behind technological progress.
Still, Musk’s comments fuel an ongoing debate about AI’s economic impact, wealth distribution, and the future role of government in managing prosperity in a post-labor economy.
