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World's Richest Man Elon Musk Says 'Money Won't Matter' When Kids Turn 18 Amid Trump Accounts Buzz: 'AI/Robotics Will Eliminate Scarcity'
Yahoo Financeยท 2025-12-24 12:31
Group 1 - Elon Musk asserts that the future of money may be rendered obsolete due to advancements in artificial intelligence and robotics, suggesting that either civilization will cease to exist or scarcity will be eliminated [2][3] - Musk's comments were in response to a discussion about the "Trump Accounts" initiative, which aims to provide capital to children when they turn 18, raising questions about the future value of money [2] Group 2 - Concerns have been raised regarding the "Trump Accounts" initiative, particularly about potential tax implications for parents contributing to these accounts, which may not be exempt from federal gift tax laws [4] - Michael Dell and his wife have committed over $6.25 billion in grants to support the Trump-branded investment accounts for children [5] Group 3 - The Delaware Supreme Court has ruled in favor of restoring Elon Musk's $56 billion pay package from 2018, reversing a previous judgment that blocked it [6] - This pay package enhances Musk's position as CEO of Tesla, allowing him to gain over 18.1% of Tesla's expanded share base if he exercises all stock options under the compensation plan [7]