Billionaire Elon Musk reveals the future: Whether you do it or not, people will still be rich

At the US-Saudi Arabia Investment Forum, Elon Musk presented a bold vision: in the future, AI and robots will take over most jobs, making work a voluntary choice, money will lose its central role, and poverty will be eliminated.

On November 19, at the US-Saudi Arabia Investment Forum held at the Kennedy Center, Washington DC, Tesla CEO Elon Musk made bold comments about the future of the labor market. He said that the strong development of artificial intelligence (AI) and robots will make going to work a voluntary choice, instead of a mandatory one as it is now.

Musk envisions a future in 10–20 years where work will be like sports or video games: those who like it can do it, those who don’t can’t. He emphasizes: “AI and robots will eliminate poverty. The only way everyone will be rich is through AI and robots.”

According to Musk, in a world where AI and robots take center stage, money will gradually lose its importance. He likens this vision to the world in the Culture series of novels by Scottish writer Iain Banks, where people live in abundance without having to work.

Musk also predicted that humanoid robots will become the "biggest industry ever," surpassing smartphones. Tesla is currently developing the Optimus robot, which he believes "everyone will want to own."

In this future scenario, Musk envisions governments implementing a form of universal, high income for everyone. This is not just a “basic income,” but one that allows people to afford the goods and services they want. However, he also acknowledges that the transition will be fraught with disruption.

Musk’s predictions are not far-fetched. In fact, China now leads the world in industrial robots. By 2024, the country will have deployed around 295,000 robots, helping to ease concerns about labor shortages as its population shrinks for the third consecutive year.

According to the International Federation of Robotics, more than 2 million robots are operating in the industrial manufacturing sector globally. China alone accounts for more than half of the new robots put into use in 2024. These machines undertake tasks such as welding car frames, assembling electronic devices, and transporting heavy goods with high precision.

Experts say that transferring work to robots is an inevitable trend. Simple, repetitive tasks will be automated, while humans focus on jobs that require creative thinking and decision-making ability.

Despite China's declining population, improving the quality of its workforce and widely using robots in manufacturing will help the country's industry maintain its competitive edge while minimizing the risk of a labor shortage.

Elon Musk’s statement opens a big debate: Is the prospect of “wealth without labor” even possible? While AI and robotics are advancing rapidly, questions about wealth distribution, social structure, and fairness remain. Musk argues that the best-case scenario is that everyone benefits from automation, but the journey to get there will certainly be challenging.

Elon Musk has once again made headlines with his prediction of a “labor-free” era, where AI and robots will replace most jobs, making people rich without having to work. While China and many other countries have deployed millions of industrial robots, this prospect promises unprecedented abundance while also raising big questions about social justice and how the global economy works.