Elon Musk, speaking with The Economist’s editor-in-chief, predicts that by 2036 money will lose much of its relevance as AI and robots create an “age of abundance.” He argues that once machines can produce more goods and services than humans can consume, traditional currency becomes unnecessary, and society will instead grapple with deflation and the challenge of transitioning from today’s polarized world.
ELON MUSK, THE RICHEST MAN on Earth, has given his verdict on the future of the world, where one day money won’t matter that much. SpaceX founder Elon Musk, who held the title of the world’s first trillionaire for a brief period of time, has recently made some jaw-dropping statements during an interview with The Economist Editor-in-Chief Zanny Minton Beddoes on July 23, 2026.
Musk shared his views on Artificial Intelligence (AI), stating that its ability to create goods and services in abundance could eventually take “money” out of the equation one day. Shedding light on the future of AI, he said, “I think AI may exceed the sum of human intelligence in around five years.” Musk emphasized that this was his prediction and continued that AI would be better at doing things than humans, except for one thing, which is being human.
Elon Musk is a businessman and the owner of the electric automobile manufacturing company Tesla and aerospace company SpaceX. His net worth is $725.1 billion as of July 27, 2026, according to Forbes. Musk told Beddoes his vision of what it might look like when AI becomes superior in intelligence. He stated, “We are in 2026. Let's see where we stand in 2036,” and added that humankind is moving towards what he calls the “age of abundance.”
When the host asked the richest man on Earth whether humans would be controlled in 10 years' time, Musk replied, “If the difference between intelligence in AI and humans is vastly greater than the difference in intelligence between AI and chimpanzees, it’s hard to imagine that the chimpanzees would be in charge.” Musk’s boldest prediction for the future was when he said money would not be as relevant in 2036 as it is today.
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He added, “You want money for goods and services… If robots and AI are providing more goods and services than any human could possibly consume, what do you need money for?” Beddoes questioned how society would transition into a world that no longer requires a currency, shedding light on several factors such as wealth inequality, job losses, and more.
Musk suggested that people should be issued cheques in such a world, after which Beddoes warned that there is a high risk of inflation in such a scenario. Musk explained, “Inflation is simply the ratio of money to goods and services. If the output of goods and services increases dramatically… you can create money in the database.” He further added that, in his version of the future, the challenge for people would not be inflation; instead, it would be deflation in an AI-driven economy.
Beddoes shared her slight disapproval of the idea, suggesting, “I’m really hung up on how we get from the current polarized, angry, fearful polity we have now to this nirvana.” Musk further shared his internal conflict regarding AI and stated, “Even intraday, I’ve gone from exhilaration to terror regarding AI.”
In the interview, the tech mogul also predicted that humans controlling AI would be the least likely scenario. He further added, “My sort of philosophical conclusion is to look on the bright side. I can't see any way to really stop this incredible momentum of AI and robots. And at times, I sort of think, well, perhaps, even if there was a stop button, we probably shouldn't press it.”
(Proofread by Varsha Pant)
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