What Elon SaidAn archive of questions answered

Subjects / Money

Money

39 answers

Fact

Will there be universal high income / abundance?

“If that is truly her position, she is simply not smart. To paraphrase Milton Friedman: you can have open borders OR a welfare state, but you can’t have both without going bankrupt! This will however change when AI and robots are ubiquitous, as there will be universal high income.”

— Elon Musk, 19 September 2026 · Post on X ↗ · In the archive

Fact

Isn't your wealth just a big pile of cash?

“I have stock in SpaceX and Tesla, not some big pile of cash. As my companies do more and more useful things, their value increases proportionate to their projected usefulness. All shareholders benefit along the way, including most retirement programs.”

— Elon Musk, 5 September 2026 · Post on X ↗ · In the archive

Opinion

Why do you keep so much of your wealth?

“I mean, I, like, I need to have sufficient voting control in the companies to, you know, still be in charge. So it’s the, you know, my sort of so-called wealth is simply a percentage ownership in the, in the, in SpaceX and Tesla essentially, and this is going to be taxed quite heavily, and there’s not some magical way to avoid taxes. If, if it were, I would know about it. So, you know, at the end of the day, the, this will get whittled down, and a few generations from now, so if money still matters, which I don’t think it will, you know, my descendants would have a tiny fraction of what I have.”

— Elon Musk, 6 August 2026 · Watch: YouTube (22:05) ↗ · In the archive

Fact

Is SpaceX getting a tax break for Terafab?

“Something that perhaps isn’t clear is that, if this location works out (other locations are still in the running), SpaceX will still be paying an annual amount that increases tax revenue for Grimes County by ~25% and will be by far the biggest source of revenue for the county.”

— Elon Musk, 4 June 2026 · Post on X ↗ · In the archive

Opinion

If everyone has a billion dollars, doesn't nobody?

“Actually, AI/Robotics will mean everyone can have a penthouse if they want. The output of goods & services will be several orders of magnitude higher than today’s economy. Read the Iain Banks Culture books for the best imagining of how it will be. That said, what is the future you want? Amazing abundance seems the best to me.”

— Elon Musk, 18 April 2026 · Post on X ↗ · In the archive

Opinion

Do you want to become a trillionaire off the backs of taxpayers?

“You are a taker, not a maker. All you’ve done your whole life is take from the makers of the world. The zero-sum mindset you have is at the root of so much evil. Once you realize that civilization is not zero-sum and that it is about making far more than one consumes, then it becomes obvious that the path to prosperity for all is just let the makers make. Regarding Tesla, the reality is that I have been given nothing. However, if I lead Tesla to become the most valuable company in the world by far and it stays that way for 5 years, shareholders voted to award me 12% of what is built. Anyone who wants to come along for the ride can buy Tesla stock. If Tesla “merely” becomes a $1.999 trillion dollar company, I get nothing. This is a great deal for shareholders, which is why they voted so overwhelmingly to approve this, for which I am immensely grateful. And they did so by a margin far more than you won your political seat.”

— Elon Musk, 7 November 2025 · Post on X ↗ · In the archive

Opinion

Why did you do DOGE and what did it achieve?

“This is an amazing story and exactly what @DOGE aims to do! The federal government has a MUCH larger amount of WASTE & FRAUD than a local or state government could ever have, because it can always print more money. Unfortunately, there is no free lunch and that extra money becomes inflation, which is a tax on those who can least afford it.”

— Elon Musk, 25 February 2025 · Post on X ↗ · In the archive

Fact

How much fraud is in government payments?

“The REAL reason so many Democrats are upset about entitlements (social security, medical, etc) fraud investigations is that they are using your taxpayer money as handouts to attract and retain ILLEGAL immigrants. Their future voters. That’s what it’s all about. Truth.”

— Elon Musk, 17 February 2025 · Post on X ↗ · In the archive

Prediction

Why do you need the Tesla pay package / more voting control?

“I should note that the Tesla board is great. The reason for no new “compensation plan” is that we are still waiting for a decision in my Delaware compensation case. The trial for that was held in 2022, but a verdict has yet to be made. I put “compensation plan” in quotes, because, from my standpoint, this is primarily about ensuring the right amount of voting influence at Tesla. If I have 25%, it means I am influential, but can be overridden if twice as many shareholders vote against me vs for me. At 15% or lower, the for/against ratio to override me makes a takeover by dubious interests too easy. I would be fine with a dual class voting structure to achieve this, but am told it is impossible to achieve post-IPO in Delaware.”

— Elon Musk, 15 January 2024 · Post on X ↗ · In the archive

Opinion

Why do you need the Tesla pay package / more voting control?

“I am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25% voting control. Enough to be influential, but not so much that I can’t be overturned. Unless that is the case, I would prefer to build products outside of Tesla. You don’t seem to understand that Tesla is not one startup, but a dozen. Simply look at the delta between what Tesla does and GM. As for stock ownership itself being enough motivation, Fidelity and other own similar stakes to me. Why don’t they show up for work?”

— Elon Musk, 15 January 2024 · Post on X ↗ · In the archive

Prediction

Did you grow up wealthy, or inherit money?

“I grew up in a lower, transitioning to upper, middle income situation, but did not have a happy childhood. Haven’t inherited anything ever from anyone, nor has anyone given me a large financial gift. My father created a small electrical/mechanical engineering company that was successful for 20 to 30 years, but it fell on hard times. He has been essentially bankrupt for about 25 years, requiring financial support from my brother and me. That said, he does deserve credit for teaching me the fundamentals of physics, engineering and construction, which is more valuable than money, but did not support me financially after high school in any meaningful way. Our condition of providing him financial support was that he not engage in bad behavior. Unfortunately, he nonetheless did. There are young children involved, so we continued to provide financial support for their well-being. Regarding the so-called “emerald mine”, there is no objective evidence whatsoever that this mine ever existed. He told me that he owned a share in a mine in Zambia, and I believed him for a while, but nobody has ever seen the mine, nor are there any records of its existence. If this mine was real, he would not require financial support from my brother and me.”

— Elon Musk, 6 May 2023 · Post on X ↗ · In the archive

Fact

How did you get your start in North America?

“More background: I arrived in North America at 17 w $2000, a backpack & a suitcase full of books. Paid my own way thru college. Dropped out of Stanford Eng/Phys grad school w $110k in college debt. Created Internet startup w bro & Greg Khouri (love bro & loved Greg, may he RIP)”

— Elon Musk, 9 June 2018 · Post on X ↗ · In the archive