'All bets are off' | Elon Musk predicts universal income will replace need to work

The world's richest man, Elon Musk, has suggested that saving money may eventually become unnecessary, arguing that advances in artificial intelligence and robotics will lead to universal high income and eliminate poverty.

Musk made the remarks Wednesday in response to a post on X by investor Ray Dalio, who said he was following Michael and Susan Dell in donating funds to help seed so-called Trump accounts. The accounts are new savings and investment vehicles for newborns and young Americans created under the One Big Beautiful Bill Act and are set to launch next year.

“It is certainly a nice gesture of the Dells, but there will be no poverty in the future and so no need to save money,” Musk wrote. “There will be universal high income.”

Musk has repeatedly argued that AI and robotics will fundamentally alter the nature of work, removing the need for most human labor and creating a broadly shared level of wealth. His comments have drawn attention from HR leaders grappling with workforce planning amid accelerating automation.