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Saving money for the distant future is pointless: Musk
In Short
Musk with $868 bn net worth, says saving money for future is 'pointless'
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Elon Musk
New York: Elon Musk, the richest man in the world, believes that saving money is 'pointless' as money won't matter in the future. The billionaire made the comment on X (formerly Twitter) while replying to a user who said they were not stressing over their "questionable financial decisions" because the future of abundance meant "most of it won't matter in a few years anyway".
The Tesla and SpaceX CEO, with an estimated net worth of $868 billion, as per Forbes, concurred with the opinion, adding that 'super intelligent abundance' will allow humans to do away with the concept of saving money. "Saving money for the distant future is pointless with the advent of super-intelligent abundance," Musk wrote.
While Musk proposed a utopian world, social media users were not impressed. The majority of users highlighted the stark contrast between his nearly trillion-dollar net worth and his advice to others not to save. Others questioned the incentive for production in a world where everything costs nothing.
"Says the guy with trillion dollars," said one user, while another added: "I hate to say it, but you are delusional. You think that greedy corporations are going to do anything to help out the general world population other than the absolute minimum required by law?"
A third commented: "If money is pointless, you can donate your money to me. I can help you get rid of it so you can enjoy your super-intelligent abundance and get rid of your pointlessness. I can get one of your private jets and a Tesla."
A fourth said: "Elon, you're overlooking the transition. Superintelligent abundance won't arrive peacefully or evenly. It will disrupt labour markets, destroy livelihoods, concentrate power, and potentially trigger enormous social unrest and revolt."
This is not the first instance when Musk has come up with his own version of the future. During an appearance on the podcast Moonshots with Peter Diamandis earlier this year, Musk said saving for retirement will be irrelevant. "One side recommendation I have is: Don't worry about squirreling money away for retirement in 10 or 20 years. It won't matter," later reiterating, "Saving for retirement will be irrelevant."
