Even with $850 billion to his name, Elon Musk admits ‘money can’t buy happiness.’ But billionaire Mark Cuban says it’s not so simple
Elon Musk’s net worth surged to $852 billion this week—a record high set into motion by the merger of two of his companies, SpaceX and xAI, ahead of a highly anticipated IPO later this year. But even with more wealth to his name than anyone in history, Musk doesn’t seem convinced that the number in his bank account translates into personal fulfillment.
How did Musk's net worth reach $852 billion?
What do studies show about money and happiness correlation?
What advice did billionaires offer Musk about finding happiness?
Why does Musk find philanthropy challenging despite his wealth?
“Whoever said, ‘Money can’t buy happiness’ really knew what they were talking about,” Musk wrote this week on X, a post that’s garnered over 96 million views.
The remark sparked reaction across his social platform, including from members of the ultrawealthy who have grappled with the same dilemma. Hedge fund billionaire Bill Ackman offered Musk some pointed advice—urging him to focus more on philanthropy and perspective.
“A lot of happiness comes from helping others. You have helped millions, and someday it will likely be billions. You just need to appreciate what you have accomplished for so many,” he wrote.
Ackman also suggested it might be time for Musk to settle down with a long-term partner. Musk has 14 children with four different women.
“Happiness can also be found in a long-term relationship with someone really special. It is time for you to find that someone for the long term. Just my two cents.”
Mark Cuban, the billionaire investor and former Shark Tank star, agreed with Musk to an extent, but said linking wealth to happiness isn’t cut and dry. Essentially, money doesn’t fundamentally change happiness so much as magnify what’s already there.
“If you were happy when you were poor, you will be insanely happy if you get rich,” Cuban hit back on X. “If you were miserable, you will stay miserable, just with a lot less financial stress.”
What the experts say
Researchers have long tried to answer the age-old question of whether money can buy happiness—and the answer is more nuanced than a simple yes or no.
A widely cited 2010 Princeton University study found that day-to-day emotional well-being increased with income but plateaued beyond roughly $75,000. More recent research from the University of Pennsylvania’s Wharton School complicates that finding. It shows that happiness rises with income, but people who are already unhappy tend to see happiness gains level off once their income reaches around $100,000 annually.
“In the simplest terms, this suggests that for most people larger incomes are associated with greater happiness,” Matthew Killingsworth, a senior fellow at Wharton and the lead author, said.
“The exception is people who are financially well-off but unhappy. For instance, if you’re rich and miserable, more money won’t help. For everyone else, more money was associated with higher happiness to somewhat varying degrees.”
Topic: $850 billion can't buy happiness?? (Read 15 times)