Musk Predicts Poverty's End: AI Will Bring 'Universal High Income', Work Becomes Optional

Elon Musk's social media platform, X, has been fined €120 million by the European Commission for breaching new digital laws, including deceptive practices related to verification badges. This fine has sparked a confrontation between Musk and European regulators, reflecting ongoing tensions in the tech industry regarding compliance with stringent regulations.

X, the social media platform owned by Elon Musk, reported a revenue of $752 million for Q3 2025, marking a 17% increase year-over-year, despite incurring a net loss of $577.4 million and an EBITDA of approximately $454 million, which is up 16%. The total revenue for the first nine months of 2025 exceeded $2 billion.

Sales at Elon Musk's social media platform X increased during the third quarter, reflecting a positive trend amid ongoing restructuring efforts. Despite the rise in revenue, the company continues to face substantial costs associated with its turnaround strategy following Musk's acquisition for $44 billion.

South Africa's telecommunications minister has instructed the industry regulator to revise local ownership rules, potentially allowing Elon Musk's SpaceX and other satellite-internet providers to operate in the country without relinquishing ownership. This move is seen as a significant step towards enhancing internet access in South Africa.

Elon Musk is collaborating with the government of El Salvador to introduce the Grok chatbot, developed by his artificial intelligence company xAI, to over 1 million students in more than 5,000 public schools as part of an AI-powered education initiative. This announcement was made on December 11, 2025, by xAI, highlighting a significant move towards integrating AI in education.

El Salvador's President Nayib Bukele announced a partnership with Elon Musk's xAI to integrate artificial intelligence into over 5,000 public schools, aiming to enhance educational resources and learning experiences for students. This initiative is part of a broader strategy to modernize the country's education system.

TIME Magazine has named the 'Architects of AI' as its Person of the Year, recognizing influential figures in the field such as Jensen Huang, Elon Musk, Sam Altman, Mark Zuckerberg, Lisa Su, Dario Amodei, Demis Hassabis, and Fei-Fei Li. This accolade highlights their significant contributions to the advancement of artificial intelligence technology.