Elon Musk has shared his vision of a future without poverty, responding to Ray Dalio’s support for the Trump administration’s new “Trump Accounts” proposal for children. While Dalio and Michael Dell backed the plan, Musk said it may not be needed. He believes technology will create abundance, giving everyone a “universal high income” and reducing the need to save money.
I personally appreciate the Trump administration’s launch of the Trump accounts, appreciate the Dells for piling on with their support, and appreciate both of them for allowing Dalio Philanthropies and others to join in. This emerging bipartisan effort exemplifies the sort of…
— Ray Dalio (@RayDalio) December 17, 2025
Musk on a Future Without Poverty
Musk wrote on X that the Trump Accounts are a “nice gesture” but unnecessary. He explained that technology and AI could, in the future, provide enough goods and services for everyone. “There will be universal high income,” Musk said, adding that automation could eliminate poverty and ensure a good standard of living, making traditional saving less important.
It is certainly a nice gesture of the Dells, but there will be no poverty in the future and so no need to save money.
There will be universal high income.
— Elon Musk (@elonmusk) December 17, 2025
