Space Exploration Technologies Corp. (NASDAQ:SPCX) and Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk says the world economy could grow up to 10 times its current size in the next decade, barring a scenario wherein there is another world war.
Musk Shares Bullish Prediction
In a conversation with influencer Peter Diamandis on Saturday, Musk shared that the world economy could grow by 10 times its current size by 2036. The Tesla CEO called it a “fairly comfortable” prediction in his appearance.
“If there’s World War III or something, that could put a kink in those plans,” Musk said, but the SpaceX CEO reiterated that if the “current trends” continued, the economy would grow 10x in 10 years.
Notably, U.S. inflation in May hit 4.2%, its highest since April 2023. The inflation rate climbed from 3.8% YoY in April 2026 to 4.2% in May.
Fallout from the U.S.-Iran war has also hit Americans hard, with grocery and gas prices reaching highs, while airline tickets have also surged. AI-induced layoffs also pose another challenge as companies increasingly automate processes.
Jim Chanos Expresses Doubt
Analyst Jim Chanos quoted a video of Musk’s prediction on X, sharing his take on the trillionaire’s comments. The analyst expressed doubts about what Musk said in his post.
“So Elon is making a ‘fairly comfortable prediction’ that global economic growth will be 25% annually over the next decade,” Chanos said in the post. “Let that sink in,” seemingly criticizing Musk’s comments in the post.
Elon Musk Hits Trillionaire Status
The prediction comes as Musk’s net worth hit $1.3 trillion following SpaceX’s blockbuster IPO. Musk’s net worth now exceeds that of other tech and Silicon Valley billionaires like Amazon.com Inc. (NASDAQ:AMZN) founder Jeff Bezos.
The CEO had earlier said that dollars would become irrelevant in the future as humanity progresses and Space-based AI computing becomes a reality.
What Fed’s New Chair Kevin Warsh Thinks
Federal Reserve Chair Kevin Warsh, in his first press conference as the successor of Jerome Powell, outlined the creation of a task force that would tackle jobs in the AI era, as well as inflation in the U.S., among other things.
Warsh also said that the Fed would not be revisiting its long-term target of 2% inflation in the U.S. unless it can actively hit it. “I’ve said for years inflation is a choice,” Warsh said.
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