Elon Musk says he plans to give away nearly his entire fortune. The pledge answers a public challenge from Nobel Prize-winning economist Daron Acemoglu.

The challenge cited a claim Musk made in a video interview. He said robots and artificial intelligence (AI) will soon make goods so abundant that money loses its meaning. Acemoglu, however, asked Musk to back that claim with real money, not just words.

Musk’s Trillion-Dollar Challenge and Shrinking Fortune

Daron Acemoglu, a Massachusetts Institute of Technology (MIT) economist who shared the 2024 Nobel Prize in Economic Sciences, posted the challenge on X on July 27. He proposed that Musk donate his roughly $1 trillion fortune to charity no later than 2036.

Acemoglu argued the pledge would demonstrate genuine confidence in Musk’s own AI predictions. It would also, he wrote, ease public worry over the political influence of billionaires and trillionaires. He further asked for an impartial body to pick the charities, all effective and non-ideological.

Source: BeInCrypto