Elon Musk has become the world's first trillionaire following a successful SpaceX initial public offering, yet the wealthiest individual on the planet suggests that currency will eventually become entirely obsolete. In a recent conversation with entrepreneur Peter Diamandis, executive chairman of the XPrize Foundation, as reported by Fortune, Musk outlined a visionary "moonshot" scenario where human labor is optional and money no longer exists.
Musk Bets on Robots
According to a video snippet of the discussion posted on X (formerly Twitter), Musk believes that artificial intelligence-powered robots will transform global economics. "AI and robots are going to make so much stuff and provide so many services that they'll run out of things to do for humans," Musk stated.
In Musk's perspective, this automated abundance will trigger a massive economic transformation where the sheer quantity of goods and services produced by robots surpasses the available money supply, driving retail prices down to near zero. He further explained that because robot labor is inexpensive and continuous, production costs would virtually vanish. Without the need to compensate human workers for generating supply, the traditional necessity for money collapses.
"I think money will stop being relevant at some point in the future," Musk declared bluntly.
Diamandis quickly highlighted the irony between Musk's statements and his immense wealth. "So just as you're becoming a multi-trillionaire, money starts to have less value?" Diamandis asked. Musk replied, "Yeah, pretty much."
Universal High Income
To address a world where humans no longer earn conventional wages, Musk has previously supported a "universal high income" system to ensure citizens can access this automated abundance.
