Tesla and SpaceX CEO Elon Musk has reignited debate over the future of work and money, declaring that advanced AI and robotics will soon render traditional savings—and even jobs—unnecessary. Responding to the launch of “Trump Accounts” aimed at helping young Americans build wealth, Musk called the initiative a “nice gesture” but ultimately “useless” in light of technological advances.
Musk made the comments on X, his social media platform, after investor Ray Dalio announced his support for the Trump Accounts—savings and investment vehicles tied to the One Big Beautiful Bill Act. While acknowledging the intention behind the program, Musk predicted that universal “high income” powered by AI would replace the need for personal financial planning.
According to Musk, AI and robotics will create a world where basic goods and services are so abundant that traditional economic concerns—like budgeting or retirement planning—will fade away. He emphasized that unlike universal basic income, which offers subsistence, universal high income would ensure material abundance, freedom from work, and widespread prosperity.
Musk reiterated his view that in a future dominated by intelligent machines, jobs will be optional. He compared future employment to hobbies—such as growing vegetables in your backyard instead of buying them at the store. Work will exist only for those who enjoy it, not because it’s economically necessary.
The billionaire also suggested that AI-driven productivity will be the only long-term answer to America’s ballooning national debt. As robots perform more jobs, Musk claims, the economy will enter a post-scarcity era where traditional monetary systems become irrelevant.
Musk’s long-term goal is to have robots—especially Tesla’s Optimus bots—generate 80% of Tesla’s value. Though delays and executive departures have hampered development, Musk remains committed to an AI-powered future that could upend every aspect of modern life.
