Nobel Prize-winning economist Daron Acemoglu has called on Elon Musk to donate his approximately $1 trillion fortune to charity by 2036, using the tech billionaire's own predictions about the future of money as a challenge.
Acemoglu, a professor at MIT, made the call on X (formerly Twitter). He stated that if, as Musk has argued, money loses its importance by 2036 due to AI and robotics, Musk should pledge to donate his fortune by then, with the charities approved by independent bodies.
Musk has argued that AI and robotics will create an abundance economy, making money irrelevant. He has suggested people should not worry about saving for retirement for the next 10–20 years because it will become irrelevant. Musk has also mentioned a future model he calls 'universal high income'.
According to reports, the Musk Foundation's assets were estimated at $14 billion by the end of 2025. According to claim:15, Musk has expressed caution about philanthropy, noting that helping people is important but very difficult. He is reported to have been critical of MacKenzie Scott's donations, saying they made the world worse. Additionally, according to claim:9, his donations have often been directed to organizations in regions where his companies operate, with allegations of close ties.
Acemoglu, who according to claim:12 shared the 2024 Nobel Prize in Economics with Simon Johnson and James Robinson, has expressed skepticism about AI-driven economic growth, suggesting it may be more limited than many tech investors expect. He argues that increased production alone does not automatically increase social welfare; the distribution mechanism is decisive.
The exchange highlights a deeper debate about wealth, philanthropy, and the future of the economy as AI and automation reshape industries.