Elon Musk: AI will create "high incomes for all", and saving money will no longer be necessary.

Elon Musk, the world's richest man, said on Wednesday that although the "Trump Account" to be launched next year is a commendable initiative, he believes that saving money will no longer be necessary in the future when "universal high income" becomes the norm.

Elon Musk, the world's richest man, said on Wednesday that although the "Trump Account" to be launched next year is a commendable initiative, he believes that saving money will no longer be necessary in the future when "universal high income" becomes the norm.

Musk made this statement in response to a post by Ray Dalio, the founder of Bridgewater Associates and an investment guru. Dalio announced in a post on X that he would follow in the footsteps of Michael and Susan Dell and donate start - up funds for the "Trump Account".

The "Trump Account" is a new type of savings and investment account established for newborns and teenagers in the United States under the "Big and Beautiful Act". Earlier this month, at an event at the White House, US President Trump announced that the "Trump Account", aimed at helping American children build wealth, will be available starting July 4, 2026.

At the same event, the Dell couple announced a donation of $6.25 billion to support the implementation of the account, injecting initial funds into the accounts of 25 million eligible children.

"The Dells' move is undoubtedly a good deed, but there will be no more poverty in the future, so saving money will lose its meaning. Eventually, the era of universal high income will come," Musk wrote on his social media platform X.

Musk has said on multiple occasions that he believes artificial intelligence (AI) and robotics will eliminate poverty and the need for work, creating a universal high - income level.

Last May, at the Viva Technology Conference in Paris, when answering the question of whether he was worried about losing his job to AI, Musk said that he thought the most likely outcome was that AI and robotics would eliminate the need for work.

"In an ideal scenario, perhaps none of us will need to work anymore. The future will achieve 'universal high income' - not 'universal basic income', but 'universal high income'. There will be no shortage of goods and services," he said.

Musk said at the time that he thought there was an 80% chance that AI would bring about a situation where humans would no longer need to work and would have everything they needed.

"By then, the real question will focus on 'the meaning of life' - if computers and robots can do everything better than humans... then what's the meaning of your life? This will be the real question in an ideal scenario. In a pessimistic scenario, anything could happen, and we could be in big trouble," Musk said.

Musk also pointed out that in the long run, "any work people do will become optional", and work will essentially be like a hobby.

Musk has also made other bold predictions about the transformative impact of AI and robotics. For example, in November this year, he proposed that the widespread deployment of AI and robots is the only way to solve the US debt crisis.

This article is from the WeChat official account "Science and Technology Innovation Board Daily". The author is Bian Chun. It is published by 36Kr with authorization.