Elon Musk, CEO of Tesla and SpaceX, believes the global economy could grow tenfold over the next decade. In a podcast with Peter Diamandis, Musk described the growth as a “fairly comfortable” outcome.
He said advances in AI, automation, and space infrastructure will greatly increase global output by 2036. However, he noted that a conflict, such as a third world war, may derail that progress.
His comments come as U.S. inflation has climbed to 4.2% in May, its highest level since 2023. Rising food, fuel, and travel costs are putting pressure on households. Geopolitical tensions and AI job losses are also key economic risks.
Jim Chanos Questions the Forecast
Veteran investor Jim Chanos disagrees with Musk’s prediction. According to Chanos, a tenfold surge of the global economy in a decade requires annual growth of roughly 25%. He argued that such rates are not sustained in modern economic history.
Chanos called the forecast optimistic, given current economic conditions and challenges in global markets.
Musk’s Wealth Climbs Above $1 Trillion
The discussion comes as Musk’s net worth climbs to around $1.3 trillion. The increase follows SpaceX’s record public listing and continued growth.
Musk has also suggested that traditional currencies could become less important over time as AI systems, digital networks, and space infrastructure reshape how value is exchanged globally.
Fed Plans AI and Inflation Task Force
New Federal Reserve Chair Kevin Warsh has announced plans to create a task force focused on AI’s impact on jobs and inflation.
Warsh also reaffirmed the Fed’s commitment to its 2% inflation target. He said inflation remains a policy choice and that the target will not be raised unless it is consistently achieved.
SpaceX Receives Lowest ESG Rating
In a separate development, SpaceX received a triple-C ESG rating from MSCI, the lowest score possible. The rating was issued one day before the company’s record $75 billion public listing.
MSCI said the score reflects significant ESG risks and weaker governance controls compared with industry peers. The firm also assigned SpaceX a controversy score of 1 out of 10 and flagged the company for severe ongoing issues.
SpaceX received an overall governance score of 3.2 out of 10.
Governance Concerns Persist After IPO
The ESG rating has added to scrutiny of SpaceX’s corporate structure, particularly regarding insider control and investor protections.
Despite those concerns, investor demand remained strong. SpaceX shares closed their first trading day more than 19% higher after the company raised $75 billion.
However, volatility emerged shortly afterward. The stock dipped 1.84% in after-hours trading following a 3.56% decline in the previous session. Market ranking data shows SPCX continues to generate weak trend signals across short-, medium-, and long-term timeframes.
Related: SpaceX Faces High Share Supply Shock as Musk’s Unlock Nears
