Elon Musk Shares His Vision of a Future Without Poverty and No Need to Save Money

Tesla CEO Elon Musk has once again shared a bold view of the future, predicting a world where poverty no longer exists and saving money becomes unnecessary.

Musk made the comments while responding on X (formerly Twitter) to a post by investor Ray Dalio, who was discussing the recently announced Trump accounts initiative. Dalio described the initiative as a bipartisan effort designed to help young Americans build financial knowledge and begin investing early. He also thanked Michael and Susan Dell for supporting the program and noted that it reflects ideas he outlined years ago about reforming capitalism.

Dalio explained that the value of the initiative lies in introducing young people to basic financial skills, helping them understand how companies and markets work, and encouraging better money management. He added that financial literacy plays an important role in building a resilient economy and said he plans to support both the accounts and related education efforts.

Responding to Dalio’s post, Musk offered a very different perspective. He said that while the gesture was thoughtful, poverty would not exist in the future and there would be no real need to save money. According to Musk, the world is heading toward a system of universal high income.

Musk did not go into detail about how such a future would be achieved. However, his comments align with ideas he has shared before about the long term impact of artificial intelligence, automation, and robotics on work and income.

This is not the first time Musk has questioned the future relevance of money. Speaking at the U.S. Saudi Investment Forum in Washington, D.C. last month, he suggested that as AI and robotics continue to improve, money itself could become less important.

During that discussion, Musk also predicted that within the next 10 to 20 years, work may become optional for many people. He compared it to activities like playing sports or video games, something people choose to do rather than need to do. He added that some people may still choose to work, much like people who enjoy growing vegetables even though they can easily buy them.

Musk’s comments continue to spark debate about how technology could reshape economies, work, and the meaning of income in the decades ahead.