Musk predicts end of money by 2036 as AI, robots take over work

Elon Musk, the world’s richest man and chief executive of Tesla and SpaceX, has predicted that money could become largely irrelevant within the next decade as artificial intelligence and robotics revolutionize the production of goods and services.

Speaking in an interview with The Economist, Musk argued that rapid advances in AI and automation could usher in an era of unprecedented abundance, where traditional economic systems based on money may no longer be necessary.

“Money won’t matter in 2036,” Musk said, explaining that AI-powered machines and robots would eventually produce more goods and services than humanity could ever consume.

“If robots and AI are providing more goods and services than any human could consume, what do you need money for in that case?” he asked.

The billionaire entrepreneur suggested that widespread automation would fundamentally reshape employment and income, replacing conventional jobs while creating a new economic reality.

When asked how people would sustain themselves if AI displaced millions of workers over the next 10 years, Musk responded with a simple phrase: “Universal high income.”

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Unlike the concept of universal basic income, Musk’s vision suggests a future in which technological productivity is so vast that people could enjoy significantly higher living standards without relying on traditional employment.

On the global AI race, Musk expressed confidence in China’s growing capabilities, despite restrictions on access to advanced computing resources.

He said China has a strong chance of becoming a dominant force in artificial intelligence because of the rapid progress being made by its technology companies.

“I think there’s a good chance China will dominate AI when it has a lot of computers,” Musk said, adding that Chinese firms are already performing impressively despite operating with relatively limited computing power.

Beyond technology, Musk also reflected on his involvement in American politics, admitting that he became more politically engaged than he had intended.

“I got a little too involved in politics,” he said, adding that he “got carried away” during the 2024 U.S. presidential election, which was won by President Donald Trump.

Following Trump’s re-election, Musk was appointed as a senior adviser and co-head of the Department of Government Efficiency (DOGE), an initiative created to reduce wasteful government spending and improve fiscal accountability. The department concluded its operations on July 4, 2026.

Defending his role in the initiative, Musk said the objective of DOGE was to ensure that public funds were used responsibly and protected from fraud.

“The goal was to make sure money is spent in sensible ways and not on fraudulent activities,” he said, while acknowledging that the role attracted significant criticism.

Musk’s latest comments add to his long-standing predictions that artificial intelligence will dramatically transform the global economy, labor markets, and society over the coming decades, even as governments and businesses continue to grapple with the opportunities and risks posed by the rapidly evolving technology.