The world’s richest man, Elon Musk, fears America’s state-backed pensions are no longer safe as fewer working-age Americans can pay for retirees who live a longer life.
Speaking on the Joe Rogan podcast for the first time since his appearance just prior to the November election, he likened Social Security to an illegal pyramid scheme where returns are generated not through prudent capital allocation, but an influx of money from new investors.
“Social Security is the biggest Ponzi scheme of all time,” Musk said.
Speaking on the Joe Rogan podcast for the first time since his appearance just prior to the November election, he likened Social Security to an illegal pyramid scheme where returns are generated not through prudent capital allocation, but an influx of money from new investors.
“Social Security is the biggest Ponzi scheme of all time,” Musk said.
The world’s richest man, Elon Musk, fears America’s state-backed pensions are no longer safe as fewer working-age Americans can pay for retirees who live a longer life.
Speaking on the Joe Rogan podcast for the first time since his appearance just prior to the November election, he likened Social Security to an illegal pyramid scheme where returns are generated not through prudent capital allocation, but an influx of money from new investors.
“Social Security is the biggest Ponzi scheme of all time,” Musk said.
