• Elon Musk says "money becomes irrelevant" if he's right about what the future holds.
• The Tesla and SpaceX CEO said AI and robots will be better than humans at everything.
• The world's richest man said his fortune could be virtually gone within a few generations.

Elon Musk says money could be meaningless one day, and the vast majority of his wealth will likely be gone within a few generations.

The world's richest person predicted that advances in robotics and space travel will create a multiplanetary economy, at which point "money becomes irrelevant" and "conventional currency will not matter."

Value will be measured in mass and power or energy, he continued. "So that's my guess," he said, adding that it seemed a "pretty obvious" outcome to him.

The Tesla and SpaceX CEO shared his vision of a post-money future and his outlook on his personal fortune with his biographer, Walter Isaacson, on "The Builders" podcast. The interview was taped in early August and released on Tuesday.

Musk recommended earlier this year that people stop saving for retirement in 10 or 20 years, as he expects AI and other technologies to supercharge productivity and usher in an age of abundance where people can have "whatever stuff they want."

He made a similar argument to Isaacson, saying "there won't be anything that humans can do that the AI and the robots can't do better." People will likely turn to hobbies like growing their own fruits and vegetables, or making art, to find purpose in life, he said.

Musk's plans for his own money

Musk, who briefly became a trillionaire after SpaceX went public in June, topped the Bloomberg Billionaire Index at Monday's close with an estimated $920 billion net worth.

He defended his personal wealth on the podcast, saying that it mostly reflects his ownership of SpaceX and Tesla, and he needs large stakes in both companies to retain voting power and remain in charge.

His fortune is "going to be taxed quite heavily," Musk said, adding that there isn't "some magical way to avoid taxes" because "if there were, I would know about it."

Musk said his wealth will "get whittled down and a few generations from now — if money still matters, which I don't think it will — my descendants would have a tiny fraction of what I have."

He also outlined what he hopes his foundation will spend his fortune on after he's gone: "Continue the goals. Make life multi-planetary, extend consciousness to the stars, improve sustainable energy on Earth."

Notably, Musk pledged on Monday to gift a share of SpaceX to every child in the US next year, a contribution worth over $10 billion today.

His announcement has won praise from President Donald Trump, who hailed Musk's "incredible generosity" and labeled him a "legendary friend" in an X post.

Musk teased a charitable pledge in late July after Nobel economist Daron Acemoglu publicly challenged him over his prediction of a post-money future.

"If money won't matter in 2036, why don't you pledge to donate your current wealth of approximately $1 trillion to charity no later than 2036," Acemoglu wrote on X.

"I am actually going to do something along these lines!" Musk responded.

As SpaceX impacts Ukraine and AI-generated music divides artists and fans, critics are asking what happens when technology has too much control over our lives

• This was originally published in TechScape, a newsletter about how technology shapes our lives. Sign up to receive it here

Hello, and welcome to TechScape. I’m Blake Montgomery, US tech editor at the Guardian, writing to you while sitting in front of Roy Lichtenstein’s monumental Drowning Girl, on view in New York City. Today in tech, we’re discussing the perils of Elon Musk’s one-man global infrastructure, AI-generated music and a Guardian AI conference in Paris.

Continue reading...

© Photograph: Gonzalo Fuentes/Reuters

© Photograph: Gonzalo Fuentes/Reuters

© Photograph: Gonzalo Fuentes/Reuters

Ukrainian President Volodymyr Zelenskyy said on 20 October that he had spoken with US Secretary of State Marco Rubio about ballistic missile interceptors, early warning of Russian launches, and “the situation with Starlink/Starshield, which needs to be restored,” he wrote on X. He thanked Rubio for “his readiness to help and his clear position” and said they would speak again soon. A day earlier, he had told US senators how each of those supplies had stalled.

This comes as the US presses Kyiv to stop its strikes on Russian oil refineries, which Trump has blamed for high fuel prices at home, and Zelenskyy counts the Starlink slowdown among the steps he says look like an effort to push Ukraine to capitulate. Ukraine’s interceptor drones depend on the service to hunt Russia’s jet-powered Shaheds, and Kyiv says they now lose the link at speeds too low to catch them. The call appears not to have settled whether that cap is gone. If it stays, Ukrainian cities could face Russia’s drone waves this winter with one fewer means to stop them, as Russia keeps striking the grid.

On 17 October, Rubio told reporters that nobody in the US ordered Starlink slowed, that the slowdown “wasn’t deliberate,” and that “my understanding is it’s been restored.” He drew a line between the two services. Ukraine’s drones, he said, ran on commercial Starlink, while Starshield, the military version, is not available to Ukraine. Kyiv has asked for it to carry out strikes deep inside Russia, and that request is under discussion, he said.

The next day, Zelenskyy told Bloomberg that Starlink in Ukraine cuts out above 161 km/h, and Kyiv says its Starshield terminals are capped as well. His post after the call still says the service needs to be restored.

Reuters’ sources point to the White House. Washington denies it

The order to slow Starshield came from inside the White House, Reuters reported, citing two US officials and a Western official. They described it as the Starshield service for the Ukrainian military, the version Rubio says Ukraine does not have. A senior Ukrainian official told Reuters that Kyiv had been told it was a White House decision. A senior US official told the agency the president never made such a request, and the White House did not answer whether other officials had. Rubio called a report that the White House ordered Starlink slowed “categorically false.”

Missile warnings and Patriots are also in dispute

Overnight on 18–19 October, Ukraine got no partner warning before the first of two Russian ballistic waves, Air Force spokesman Yurii Ihnat said on the national telethon. That came hours after Zelenskyy said US warnings had resumed. On 19 October, Rubio pushed back against suggestions of a pause in US intelligence sharing, AFP reported.

Zelenskyy also told Bloomberg the US sends only 12 Patriot interceptors a month and has authorized only part of those “we have paid for” under PURL. Ukrainian officials told the Kyiv Independent that Defense Secretary Pete Hegseth has not signed the contracts. A US government official called those claims “not true.”

• This post originally appeared in the Business Insider Today newsletter.
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The SpaceX business helping to fund Elon Musk's biggest bets is taking a swing of its own just in time for earnings.

SpaceX reports earnings after the bell today, and Musk's goal of turning Starlink into a major mobile carrier is expected to be a focus.

Taking on Verizon, AT&T, and T-Mobile is a huge endeavor. And it requires significant investment from a company that already has a long list of expensive bets.

As a bit of a refresher, SpaceX is made up of three key parts: connectivity (Starlink), space (reusable rockets like Starship), and AI (Grok, X, and data centers). Among the three, connectivity is the only one generating an operating profit.

That makes it incredibly valuable not only as a stand-alone business but as a way to offset the expensive investments made by SpaceX's space and AI segments.

Turning Starlink into a mobile carrier complicates that arrangement. To offer service in more densely populated areas, SpaceX will need to launch more satellites into space and establish a ground footprint.

How much SpaceX plans to set aside for that buildout and the impact it'll have on the bottom line are key questions analysts will have.

Musk is no stranger to talking a big game. He recently said SpaceX could one day be worth more than Earth's economy.

He's backed it up by accomplishing things others thought were impossible, like self-landing rockets. Just don't expect him to hit his self-imposed deadlines. (Case in point: Tesla Roadster, which has faced numerous delays and is now targeting production in 2028.)

There's less at stake when you're starting from scratch. But with Starlink, it's also about Musk avoiding turning his cash cow into another capital drain.

According to another Musk proclamation, a lot of us will have a vested interest in SpaceX's success.

Early Monday morning, Musk said he'll give one of his SpaceX shares to every kid in America next year.

"This will be the first of many," he added.

Details on how that would work weren't clear, but many people immediately thought of the recently launched Trump Accounts.

President Donald Trump predicted Musk would donate SpaceX stock to the accounts. And SpaceX president Gwynne Shotwell already said she'd gift a share of her company stock to Trump Accounts.

If that's how the shares are distributed, it's an example of the complexities the Trump Accounts can pose for some parents. Certain jobs, like those in financial services, have restrictions around the types of investments you can hold due to compliance reasons.

Reports that SpaceX temporarily restricted its satellite internet service for Ukraine’s armed forces have generated serious concern in Kyiv and among the country’s allies. SpaceX operates the civilian Starlink system and its lesser-known military-grade counterpart, called Starshield. But many news stories leave an important question unanswered: what does a Starshield “slowdown” mean on the battlefield? […]

The post Why Starshield’s slowdown really hurts Ukraine appeared first on Asia Times.

A Sofia court has cleared European arrest warrants for two 19-year-old Germans charged with setting fire to Starlink antennas south of the Bulgarian capital, a court spokeswoman told dpa. Prosecutors named the pair in court, but both had already left Bulgaria. The case adds Bulgaria to a run of attacks on Starlink sites in Europe, which Poland and Lithuania have linked to Russia.

While Russia presses its assault along the front and strikes Ukraine’s cities, Starlink keeps Ukraine’s drone units and front-line troops connected, and Poland pays about $50 million a year for its terminals. The network’s ground links in Europe are now a target in their own right, and ISW has linked the Polish fire to a wider Russian pattern of sabotage. Each attack on a ground station hits a network whose speed caps already disrupted Ukraine’s drone missions this month.

Two names, a few hours in Bulgaria

Prosecutors identified the suspects as Zeka Islam and Tirpan Beytullah, Bulgaria’s state news agency BTA reported, noting the names may be misspelled. Their whereabouts are unknown, according to German authorities cited by the agency. They were charged in absentia on 14 October and face three to 12 years in prison if convicted.

According to the indictment, the two crossed from Serbia at the Kalotina checkpoint at 17:37 on 9 October and told border officers they were tourists. At about 22:25, wearing gloves and masks, they allegedly set fire to antennas at the Plana teleport, a satellite ground station near the village of Plana. They drove back into Serbia through the same checkpoint at 23:55.

Three antennas burned completely, two were partly damaged, and three more were affected, prosecutors say. The pair traveled in a Volkswagen with German plates, and a national warrant followed two days after the charges, ZDF reported.

The court-appointed lawyers argued that investigators had pinned down the vehicle, not the men in it. The court rejected those objections, finding reasonable grounds to suspect the pair. The lawyers said they would appeal. The ruling can be challenged within three days.

An opposition MP made the fire public three days later

The fire became public only on 12 October, when opposition MP Ivaylo Mirchev of Democratic Bulgaria posted about it on Facebook. He said 11 antennas had been set on fire, more than prosecutors later counted.

In parliament two days later, Prime Minister Rumen Radev asked the head of the State Agency for National Security (DANS) not to reveal details, saying disclosure could harm the investigation. DANS head Plamen Tonchev told lawmakers he believes the fire was sabotage and that more such attacks cannot be ruled out, dpa reported.

After the ruling, Mirchev wrote that Radev personally owes the public an explanation of what has been achieved, BTA reported.

Bulgaria’s case joins attacks Poland and Lithuania tie to Russia

Bulgaria has not said who might be behind the fire. Authorities in Poland and Lithuania have linked similar recent arsons on Starlink equipment to Russia.

In September, fire hit a Starlink ground station south of Warsaw, and Germany later detained two suspects. On 18 October, Lithuania’s prime minister said intruders had tried to burn a company’s Starlink antennas used by Ukraine, calling it part of Russia’s hybrid war. Moscow claims such accusations are baseless, Reuters reported.