“Money Will Be Useless in 10 Years” — Elon Musk Predicts AI Revolution That Could End Traditional Wealth

The world’s richest man, Elon Musk, has made a bold prediction about the future of money, claiming that advances in artificial intelligence and robotics could make wealth and traditional employment largely irrelevant within the next decade.

In a far-reaching interview with The Economist, the Tesla and SpaceX chief executive argued that the world is moving toward an age of unprecedented abundance, where intelligent machines will be capable of producing more goods and services than people could ever consume.

According to Musk, such a transformation would fundamentally change the purpose of money itself.

“Money won’t matter in 2036,” Musk declared, suggesting that the rapid evolution of AI could reshape the global economy in ways never before imagined.

Explaining his position, the billionaire questioned the need for money in a future where robots and AI systems can effortlessly meet humanity’s needs.

“What do you want money for? You want money for goods and services, right? If robots and AI are providing more goods and services than any human could possibly consume, what do you need money for in that case?” he asked.

Musk believes the rise of automation will not necessarily trigger widespread poverty or economic collapse, as many critics fear. Instead, he foresees a future of what he described as “universal high income,” where AI-driven productivity generates enormous prosperity and raises living standards for everyone.

The tech entrepreneur also weighed in on the global race for AI dominance, warning that China is positioning itself as a major force in the sector. He noted that Chinese technology companies are already making remarkable progress despite operating with fewer computing resources than some of their Western counterparts.

Beyond technology, Musk addressed his growing involvement in politics, admitting that his role in the 2024 United States presidential election attracted significant backlash.

The billionaire served as a senior adviser to President Donald Trump and co-led the Department of Government Efficiency (DOGE), an agency established to reduce wasteful government spending and tackle fraudulent expenditures before its operations ended earlier this month.

Reflecting on the experience, Musk conceded that his political engagement may have gone further than expected.

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“I got a lot of flak from this,” he said, acknowledging the criticism that followed his appointment.

Musk also pushed back against accusations of racism, citing both his family and workplace diversity as evidence against such claims.

“My partner is half Indian, and I have four children with her. One of them was named after a famous Indian physicist, so I would say I’m not racist,” he said.

He further stressed that his companies employ senior executives from diverse backgrounds, adding, “I don’t think there’s any racism there.”

Addressing allegations that he harbours anti-Muslim sentiments, Musk argued that his concerns are not directed at any religion or ethnicity, but at individuals whose beliefs conflict with the values of Western societies.

“If people are coming to a country with antithetical views, I am against that,” he said, adding that he opposes violence and the imposition of laws that contradict what he described as accepted Western principles.

Despite the controversies surrounding his political views and outspoken comments, Musk insisted he remains unfazed by public criticism.

“Maybe some people do loathe me, and that’s probably true. I don’t care,” he said.

Pointing to his nearly 250 million followers on X, the social media platform he owns, Musk argued that while some critics may dislike him, many more continue to support him.

His latest comments add to a growing debate about how artificial intelligence could reshape jobs, wealth creation and society itself, with Musk once again placing himself at the centre of discussions about the future of humanity and technology.