Elon Musk Predicts AI Will Make Money a 'Worthless Database' in 20 Years

Tesla and SpaceX CEO Elon Musk has shared his distinctive perspective on money and economics, challenging conventional understanding of financial systems and predicting radical changes driven by artificial intelligence. His comments, spanning from April 2022 interviews to recent social media posts, present a vision where traditional economic concepts may become obsolete. Money as Information System, Not Value Store Speaking to Mathias Döpfner, CEO of Axel Springer, on the WELT Documentary channel in April 2022, Musk explained his fundamental view of monetary systems. "What is an economy? People get confused, sometimes they think an economy is money. Money is a database for exchange requisite services and for time-shifting the exchange of written services, that's it. Money is a database, it doesn't have power in and of itself," he stated. To illustrate his point, Musk presented hypothetical scenarios that highlight the distinction between financial wealth and practical value: Scenario Financial Asset Practical Value Shipwrecked on remote island Trillion dollars in Swiss bank account Worthless compared to can of soup Isolated situation All Bitcoin in the world Still leads to starvation Real economy Currency systems Goods and services Labor as Economic Constraint Musk identified labor as the primary bottleneck in economic production. "The limiting factor for the economy is labour and so if you address the limiting factor for the economy then it's not clear that an economy in the traditional sense has any meaning. Because you have no constraint on goods and services, we decide to make things scarce, like a particular piece of art," he explained during the 2022 interview. This perspective forms the foundation of his predictions about future economic transformation through technological advancement. AI-Driven Economic Revolution Musk's recent statements suggest he believes artificial intelligence will fundamentally alter economic structures within the next two decades. He has made several specific predictions about this transformation: Retirement Planning Obsolescence Musk recently advised against traditional retirement savings, stating: "One like side recommendation I have is, don't worry about squirreling money away for retirement. In 10 or 20 years, you won't need to save for retirement. If any of the things that we've said are true, saving for a retirement will be irrelevant." He suggested that healthcare, housing, and income needs will be met by an abundant society. Work as Optional Activity In October 2025, Musk posted on X (formerly Twitter): "AI and robots will replace all jobs. Working will be optional, like growing your own vegetables, instead of buying them from the store." This statement reflects his belief that technological advancement will eliminate the necessity of traditional employment. Near-Zero Cost Goods and Services During an interview with United States Senator Ted Cruz, Musk described a future economic model where "tens of billions of robots will make you anything or provide any service you want for basically next to nothing." This vision suggests that automation could drive the cost of goods and services to minimal levels. Economic Philosophy and Future Implications Musk's economic philosophy centers on the distinction between financial systems and productive capacity. His arguments suggest that current monetary frameworks may become irrelevant as artificial intelligence and robotics address what he considers the fundamental constraint of human labor. These perspectives challenge traditional economic thinking about value creation, wealth accumulation, and the role of work in society. The billionaire's predictions span a 10-20 year timeframe, during which he expects artificial intelligence-led advances to create conditions of material abundance that could reshape fundamental economic relationships and eliminate traditional concerns about financial security. Elon Musk conducted an X poll asking his followers whether he should buy airline company Ryanair, amid an ongoing public dispute with the company's CEO Michael O'Leary. The poll, which also asked if he should restore late founder Tony Ryan "as their rightful ruler," demonstrates Musk's continued reliance on social media voting for major decision-making. Poll Results and Background The Ryanair acquisition poll attracted significant engagement from X users, highlighting the public interest in Musk's business ventures. Poll Metric: Details Total Votes: Over 635,000 Yes Votes: 77.5% No Votes: 22.5% Context: Ongoing feud with Ryanair CEO The poll emerged after Musk called Ryanair CEO O'Leary an "utter idiot" who should be fired, escalating a dispute that began when the airline boss ruled out installing Musk's Starlink internet service on Ryanair aircraft. The two executives traded public criticisms on social media platforms. Historical Pattern of Poll-Based Decisions Musk has established a track record of using X polls to guide significant business and personal decisions across multiple ventures. Twitter Acquisition Strategy Months before acquiring Twitter in March 2022, Musk conducted several polling rounds on the platform while quietly purchasing company stock. His polls focused on free speech principles, asking followers questions about Twitter's adherence to democratic values and its role as a "de facto public town square." Tesla Stock Sale Decision On November 6, 2021, Musk posted a Twitter poll asking whether he should sell 10% of his Tesla stock, stating "I will abide by the results of this poll, whichever way it goes." The poll received millions of responses, with 57% voting yes. Tesla subsequently reported in an SEC filing that Musk had sold $1.1 billion worth of Tesla stock that November. Leadership and Platform Changes X CEO Transition After naming himself CEO of X following the acquisition, Musk faced continued public criticism. On December 18, 2022, he posted a poll asking whether he should step down as CEO, writing "I will abide by the results of this poll." Over 57.5% of respondents agreed he should step down, which he did in 2023. Account Reinstatement Decision Shortly after acquiring Twitter in 2022, Musk polled followers on whether to reinstate Donald Trump's banned account. The poll drew over 15 million responses, with nearly 52% voting yes, leading to the account's restoration. Political Ventures America Party Proposal On July 4, 2025, following a dramatic fallout with Trump at DOGE, Musk asked followers if they wanted him to start a new political party. He floated the "America Party" idea after a feud with Trump over his "One Big Beautiful Bill." With voters supporting the new party formation by a 2-to-1 margin, Musk announced "you want a new political party and you shall have it!" However, he has not discussed the political party since then and has recently reconciled with Trump. Strategic Communication Tool These polling instances demonstrate Musk's use of social media as both a communication strategy and decision-making mechanism. The polls serve multiple purposes: gauging public sentiment, generating engagement, and providing apparent democratic legitimacy for his choices. Whether the latest Ryanair poll will result in actual acquisition discussions remains to be seen, following Musk's established pattern of poll-driven announcements.