Elon Musk, the world’s wealthiest individual, believes that people should not hesitate to have more children due to financial worries associated with raising them.
When questioned about his advice for younger individuals considering starting a family, the Tesla CEO—whose net worth is approximately $241 billion according to the Bloomberg Billionaires Index—encouraged them to “begin right away.”
Musk stated, “People tend to overthink the challenges of parenthood, especially when it comes to making ends meet.” He made these remarks at a pro-Trump rally in Harrisburg, Pennsylvania, over the weekend. “But honestly, there’s no better time than now. Just go ahead and have kids. You won’t regret it. It will all work out.”
ELON MUSK: “My advice regarding starting a family is start immediately… people worry too much about having kids.. it’s difficult to make ends meet & whatnot.. but there’s really no time like the present. Just have kids, you won’t be sorry. It’ll work out”pic.twitter.com/DZCK2XqCzM
— America (@america) October 20, 2024
In a 2015 estimate, the USDA calculated that raising a child in the U.S. until the age of 17 would cost around $233,610. Moreover, recent years have seen soaring inflation, adding pressure on parents; a LendingTree study conducted in April revealed that three out of four parents believe that raising a child is “far more costly than anticipated.”
The proportion of parents who reported feeling financially stable fell to 73% in 2023, down from 75% in 2021, as reported by the Wall Street Journal.
Musk, who welcomed his 12th child in June, has long expressed concern about declining birth rates. In a February post on X, he advocated for families to have three or more children to “support the growth of humanity.” He has frequently endorsed “pronatalist” theories that associate lower birth rates with potential societal collapse.
In a tweet from 2022, he emphasized, “The declining birth rate is the greatest threat our civilization faces.”
However, experts have challenged the assertions made by Musk and other pro-natalist advocates, such as investor Marc Andreessen, who argue that increasing birth rates could resolve global issues. In August, two scholars—Emily Klancher Merchant, an assistant professor at UC Davis, and Win Brown, a research affiliate at the University of Washington—described the push for higher birth rates as akin to a “Ponzi scheme ,” wherein new generations bear the burden of supporting older ones. They suggested that better regulatory measures and redistribution of resources would be more effective solutions to societal and economic challenges.
Despite his calls for larger families, Musk has expressed his support for former President Donald Trump. This stance comes at a time when access to in vitro fertilization (IVF) has faced limitations or suspension in some states, following the overturning of Roe v. Wade by three Trump-appointed Supreme Court justices in 2022. Since this landmark ruling, CNN reports that the U.S. has seen an increase in infant mortality rates. Trump stated earlier this month that he and the Republican Party endorse IVF, a reproductive option for those struggling to conceive.
This story was originally featured on Fortune.com and Msn.com
