Elon Musk Predicts Money Will Become Irrelevant, Foresees AI and Robotics-Driven Future Leading to Automated Abundance
Elon Musk has predicted that AI and robotics will lead to an era of automated abundance, eventually making traditional money irrelevant. As production costs drop and robots handle most labour, Musk envisions a massive economic shift. To mitigate the loss of wages, he continues to advocate for a system of universal high income for citizens.
Following his milestone achievement as the world's first trillionaire after the successful SpaceX initial public offering, Elon Musk has outlined a vision of a future economy where traditional currency may lose its relevance. In a recent interview with entrepreneur Peter Diamandis, Musk suggested that the rapid advancement of artificial intelligence and robotics will fundamentally transform global economic structures.
Musk anticipates that AI-driven robots will eventually handle the vast majority of production and services, leading to a state of extreme abundance. He argues that as automated systems continue to generate goods and services, the supply will significantly outpace current monetary frameworks, effectively causing the prices of retail goods to plummet toward zero. Mark Cuban Warns of Major Stock Market Crash as Elon Musk's Net Worth Rises, Says Downturn Could Quickly Wipe Out Fortunes.
Because robot labour operates continuously at a low cost without the need for human wages, Musk believes the foundational need for money will diminish. During the discussion, he stated bluntly that he expects money to stop being relevant at some point in the future as human labour becomes optional. Elon Musk's Net Worth Skyrockets After SpaceX IPO, Making Him History’s 1st Trillionaire; Know His Current Wealth.
Addressing the challenges of an economy where traditional wages may no longer exist, Musk has previously advocated for the implementation of a "universal high income" system. This concept is intended to ensure that citizens maintain access to the goods and services produced by an automated workforce. When questioned by Diamandis regarding the irony of his recent wealth accumulation during a shift toward a cashless future, Musk agreed that money may indeed have less value in such a paradigm.
(The above story first appeared on LatestLY on Jun 15, 2026 09:13 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
