Billionaire entrepreneur Elon Musk has been forced to confront the consequences of his high-profile foray into US politics. In an interview with The Economist, he acknowledged getting 'carried away' in his involvement during Donald Trump's presidency and admitted that his financial backing (£158 million) had taken him too far from his business ventures.
As Trump's 'financial axman', Musk oversaw massive budget cuts totalling £118 billion (approximately $150 billion), resulting in tens of thousands of federal job losses. His regrets may be rooted in the impact this has had on people's lives and livelihoods, given his previous admission that he would focus more on his companies if he had another chance.
Musk also shared his ambitious vision for artificial intelligence. He believes AI systems and robots will soon take over most digital and physical jobs, making human work 'optional'. This could happen as early as five years from now, with AI surpassing the sum of all human intelligence by then. Within a decade, he predicts an era of 'amazing abundance' where money becomes 'meaningless', thanks to advancements in his SpaceX venture merging with AI technology for cognitive tasks and Tesla's humanoid robots.
Musk's more contentious claims sparked significant debate, particularly about the UK's future. He predicted that within two decades, the country would be engulfed in a civil war, driven by his recent interest in UK politics, notably on immigration and race. When questioned further, Musk shifted focus to criticising the media for what he saw as 'misleading' portrayals of Europe's far right parties, which he believes represent 'normal people' seeking secure borders and prudent spending.
This interview follows SpaceX's successful flotation on the New York stock exchange in June 2026, briefly elevating Musk's wealth to £988 billion (approximately $1.25 trillion), making him – albeit temporarily – the world's first trillionaire before his net worth adjusted back to around £593 billion (approximately $750 billion).