Tesla CEO Elon Musk declared that artificial intelligence and humanoid robots represent “the only way to make everyone wealthy,” dismissing concerns about widespread job displacement during the recent U.S.-Saudi Investment Forum. The tech billionaire’s remarks reignite debate about automation’s economic impact as millions face potential workforce disruption.
Technology as Poverty Solution
Speaking alongside Nvidia CEO Jensen Huang, Elon Musk criticized traditional poverty alleviation efforts, stating many NGOs have failed. “But AI and humanoid robots will actually eliminate poverty,” he asserted, positioning technological advancement as superior to conventional development approaches.
The Tesla CEO clarified his vision extends beyond his company’s Optimus robot project: “Tesla won’t be the only one that makes them. I think Tesla will pioneer this, but there will be many other companies that make humanoid robots.” He emphasized: “But there is only basically one way to make everyone wealthy, and that is AI and robotics.”
‘Poverty is an Engineering Problem’ – Elon Musk
Elon Musk reinforced his position on X (formerly Twitter), writing: “Poverty is an engineering problem,” framing economic inequality as solvable through technological innovation rather than policy intervention or wealth redistribution.
Post-Currency Future Vision
The billionaire entrepreneur envisioned a society where money becomes obsolete. “There will still be constraints on power like electricity and mass. But I think at some point currency becomes irrelevant,” he predicted.
In Musk’s future scenario, employment transforms from necessity to optional pursuit. Work would resemble “playing sports or a video game,” with AI advancements freeing humans for preferred activities. “It’s much harder to grow vegetables in your backyard, but some people still do it because they like growing vegetables,” he stated, suggesting labor would become recreational rather than economical.
Criticism and Context
These comments arrive amid scrutiny of Musk’s immense wealth, including criticism from personalities like Billie Eilish. The statements echo previous remarks about automation’s transformative potential, though critics question whether technology concentration among billionaires can genuinely solve poverty.
Economists and labor advocates have challenged similar predictions, noting historical patterns where automation has created wealth concentration rather than universal prosperity. The debate continues over whether AI advancement will democratize wealth or exacerbate existing inequalities.
Musk has consistently promoted this technological utopian vision throughout his career across multiple ventures.
