Elon Musk Thinks Money Could Be Obsolete by 2036. Here’s His Plan
Artificial intelligence and automation are reshaping how major companies talk about work, wages, and the future of the economy in 2024. Elon Musk brought that debate into sharper focus on May 23, 2024, when he said AI could create a future of “universal high income” in which money becomes less important or even obsolete. His comments tied directly to Tesla, xAI, and his long-running push for robots and machine-led production in the United States.
Musk’s latest vision centers on AI, robots, and abundance
At the Viva Technology conference in Paris on May 23, 2024, Musk said there is a “good chance” that no job would be needed in the future, according to CNBC and Reuters coverage of the event. He said people could work for personal satisfaction, but that AI and robotics may provide goods and services at such scale that money would matter far less. That is the core idea behind his 2036 framing, even though he did not announce a formal policy document or roadmap tied to that exact year.
Musk connected that outlook to physical production as much as software. Tesla has been developing its Optimus humanoid robot, and during Tesla’s April 2024 earnings call, Musk said the company expects to sell “genuinely useful humanoid robots” in low production for internal use next year. He also told investors on that call that Tesla could start external sales of Optimus as soon as 2026 if development stays on track.
What this means in the U.S., and what is still unknown
For Americans, the immediate impact is more about direction than day-to-day change. Tesla’s robot work is centered in Texas and California, and xAI announced in 2024 that it was expanding AI infrastructure in Memphis, Tennessee, but Musk has not released a national plan explaining how a post-money system would work in any specific state. There is no confirmed federal proposal, no list of pilot cities, and no timeline showing how households would move from wages to AI-provided abundance.
What is confirmed is that Musk has repeatedly described a version of universal high income rather than traditional universal basic income. In his May 23, 2024 remarks, he said the key issue would be whether people feel emotionally fulfilled if computers and robots can do everything better. That means the public discussion, at least for now, is philosophical and industrial rather than legislative.
Why Musk is talking this way, and what people should expect next
The context is a fast-moving AI race and a broader labor debate. The International Monetary Fund said in January 2024 that AI could affect nearly 40% of jobs worldwide, while companies across tech and manufacturing have been investing heavily in automation to cut costs and raise output. Musk has argued in multiple interviews over several years that advanced AI could unlock near-limitless production, which is the economic basis for his suggestion that money could become obsolete.
For consumers and workers, there is no verified change to taxes, wages, bank accounts, or federal benefits tied to Musk’s remarks. The practical next steps to watch are product-based: Tesla’s robot development, xAI’s computing expansion, and any future policy comments Musk makes in public or during earnings calls. As of August 2026, the idea remains a public vision from one CEO, not an adopted U.S. economic program.
