Billionaire tech mogul Elon Musk has once again sparked global debate after suggesting that saving money may one day become unnecessary. According to the Tesla and SpaceX boss, the future could usher in an era of “universal high income,” where poverty no longer exists.
Musk made the bold claim while responding to billionaire investor Ray Dalio on social media. In his post, Musk argued that as artificial intelligence and robotics continue to advance, they will eventually take over most forms of work. This, he believes, will lead to a world where goods and services are produced in such abundance that basic needs are effortlessly met.
“There will be no poverty in the future and so no need to save money,” Musk wrote, adding that human jobs could become optional rather than essential. In such a scenario, money itself may lose much of its relevance as machines handle production and distribution at scale.
The statement quickly went viral, triggering mixed reactions online. Some netizens praised Musk’s vision as hopeful and futuristic, arguing that technology could indeed create a more equal world. Others, however, questioned how such a system would work in reality, pointing out current inequalities, job losses, and ethical concerns surrounding AI.
This is not the first time Musk has spoken about a post-scarcity future. He has previously supported ideas such as universal basic income (UBI), warning that automation could disrupt traditional employment faster than society is prepared for.
