Tesla owner and SpaceX Chief Executive Officer Elon Musk has forecast that the world is heading towards a future where money could become largely irrelevant due to rapidly evolving technological innovations.
The world’s richest man made this known during a recent interview with The Economist, where he noted that by 2036, AI-powered systems and robots will be capable of producing more goods and services than people could ever consume.
“Money won’t matter in 2036,” Musk told the media outlet, explaining that artificial intelligence and automation are increasingly taking over human labour. “If robots and AI are providing more goods and services than any human could consume, what do you need money for in that case?”
When asked his opinion on how people will live after losing their jobs to AI over the next decade, he replied simply: “Universal high income.”
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He went on to add that he believes there is a strong chance China will dominate AI once it acquires sufficient computing power, noting that Chinese companies are already performing remarkably well even with limited compute capabilities.
Musk, however, admitted he got “a little too involved in politics” and “got carried away,” referencing his participation in the 2024 United States election won by President Donald Trump.
Days after his re-election, the incumbent US leader appointed the 55-year-old Musk as a senior advisor and co-head of the Department of Government Efficiency (DOGE), which ceased operations on July 4, 2026.
Musk reiterated that the primary goal of DOGE was to ensure taxpayer money was spent in sensible ways rather than lost to fraudulent activities. “I got a lot of flak for this,” the billionaire acknowledged.