Elon Musk Makes Wild Prediction About Retirement Savings and AI
Tesla billionaire Elon Musk made a strange prediction regarding AI and folks' retirement savings, and the wild statement has people in a panic.
June 2 2026, Published 3:03 p.m. ET
The world's richest man, billionaire Elon Musk, made a prediction about AI and people saving for their retirement that has many people feeling uneasy. The Tesla founder and SpaceX CEO is also the current owner of X, formerly Twitter.
According to Fortune, Musk says that saving for retirement would be pointless due to the “supersonic tsunami” of robotics and Artificial Intelligence, but why?
Elon Musk makes a prediction about AI and retirement savings.
The world's richest man appeared on the podcast Moonshots with Peter Diamandis on Jan. 26, 2026, and he predicted that saving money for one's retirement won't matter in the future because if advances in AI.
"I call AI and robotics 'the supersonic tsunami.' We're in the singularity," he said. "Don’t worry about squirreling money away for retirement in 10 or 20 years. ... It won’t matter.”
The billionaire added that AI will be exceed human jobs by 2030.
“Anything short of shaping atoms, AI can do probably half or more of those jobs right now,” he continued. “I’m confident by the year 2030, AI will exceed the intelligence of all humans combined.”
Elon also predicted that people will receive better healthcare due to AI advances, and limits on things like goods, services, and schooling will be eliminated.
"Let’s not worry about growing the money supply,” he added. “It won’t matter because the output of goods and services actually will grow faster than the money supply.”
Elon also claimed that Social Security is a Ponzi scheme. According to the Federal Reserve, only 55 percent of Americnas have savings equal to three months of expenses, and less than half of Americans have a $2,000 emergency savings fund. The billionaire will fare okay, though. The board of SpaceX recently approved a hefty compensation package for Elon, per Reuters, and the company also has a $60 billion deal with AI start-up Cursor, per The Financial Times.
"SpaceXAI and @cursor_ai are now working closely together to create the world’s best coding and knowledge work AI,” the company said in an X post, per CNBC.
Reactions on X were not kind to the Trump supporter. One user wrote, "Well, if he's judging humanity's intelligence by his own standard, then yes, AI will surpass it, but so will calculators and my kid's tamagochi."
"Musk is not to be trusted. Take everything he says with a grain of salt. Look to a wider consensus of minds on the subject," added another.
One user noted another concern shared by many about the future of AI. "AI has incredible potential, but without responsible control and ethics, it could become a risk instead of a revolution."
Michael Truell, the CEO of Cursor, said that he is “excited to partner with the SpaceX team to scale up Composer (AI model brand)."
The $60 billion deal gives SpaceX the rights to acquire code-editing rights for Cursor. The deal will help the company catch up with AI competitors "to create the world’s best coding and knowledge work AI.”