Musk: Money Will Be Irrelevant by 2036

Elon Musk predicted money will be irrelevant by 2036 in an extended interview recorded at his Texas Gigafactory and published in late July 2026. He argued advances in artificial intelligence and robotics will allow machines to produce more goods and services than people can consume.

He argued mass production by machines will make many items abundant and expects overall output to outpace the supply of money, producing falling prices. “You want money for food, housing, transport, entertainment,” he asked. “If that is so abundant, what do you need money for in that case?” He described the transition as likely to be “bumpy” and highlighted income transfers as a central policy issue as jobs shift.

Musk proposed that governments could issue checks directly to citizens once goods become widely available. He has previously described a future in which work is optional because humanoid robots and AI handle most production and has cited a series of science fiction novels that imagine a society without material want.

Some economists questioned the timeline and the idea that money would lose its role by 2036. Economists such as Tyler Cowen and Noah Smith argued scarcity could shift to energy, land and people’s attention, and that unique items like a house with a specific view or seats at top schools would remain limited.

Analysts also raised governance and ownership concerns. If a small number of firms control the robots and the energy that powers them, distribution of any abundance would not occur automatically. Tesla’s market value remains tied partly to expectations about its Optimus robot program and to investors seeking financial returns.

Other technologists have proposed related policies. Mustafa Suleyman has discussed a form of universal provision built on abundant intelligence, Sam Altman has funded basic income trials, and futurists such as Ray Kurzweil have long forecast abundance tied to faster computation.

If parts of Musk’s forecast occur, economists say falling prices for many goods tied to automation, greater pressure for large-scale income support, and a shift in which resources are scarce could follow. He acknowledged social strain as jobs disappear and said institutions will need to adapt to manage disruption and distribution. Economists and policymakers say the outcome will depend on the pace of technology adoption, limits on energy and land, patterns of corporate ownership and political choices.