Oracle co-founder Larry Ellison thinks AI could make us all rich through a universal high income but governments will need to change

Date:
Fri, 30 Oct 2026 19:15:00 +0000

Description:
The world's eighth-richest person says everyone could become "wealthier," earning a new universal high income from AI.

FULL STORY ======================================================================Copy link Facebook X Whatsapp Reddit Pinterest Flipboard Threads Email Share this article 0 Join the conversation Follow us Add us as a preferred source on Google Newsletter Subscribe to our newsletter Speaking on-stage at the company's recent AI World conference, Oracle co-founder Larry Ellison
declared AI could eventually make everyone "healthier and wealthier".

Apparently unfazed by the technology's impacts on humanity, Ellison does acknowledge that governments need to have a shift in mindset to adapt to this new future. In a Q&A during the conference's hotly anticipated final keynote, Ellison outlined a future where AI systems and robots could dramatically reduce the cost of goods and services. But rather than accepting the suggestion that AI would end up replacing us all, he argued that the technology would ultimately serve to make us more productive, allowing
workers to achieve things that simply weren't possible before. Latest Videos From TechRadar Watch full video here: AI won't replace us, but it will change the economics of work in a lasting way "I think that's kind of nonsensical," Ellison said about predictions that AI will eventually replace everyone.

The multi-billionaire accepted AI and automation will inevitably displace
some jobs, pointing toward rideshare service s in a hint to ongoing approval of driverless cars in Las Vegas and other cities. You may like Oracle co-CEO Mike Sicilia questions whether all of today's work will be 'necessary' going forward, says AI will 'give people more time to be human' 'The introduction
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But he also stressed not all jobs would be impacted equally, revealing his pilot qualifications on-stage and stressing that autopilot hasn't replaced human pilots despite being a decades-old technology.

Although humans will continue to play supervisory roles in many industries (we're already seeing human knowledge worker roles evolve into AI agent managers in some cases), Ellison argued that the overall benefits would be positive, providing governments get involved to support the humans they represent. Are you a pro? Subscribe to our newsletter Sign up to the
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Painting a picture of what he meant, he described a hypothetical house being constructed entirely by robots in a scenario where automation had replaced human labor. Whereas human labor would have accounted for, say, 80% of the cost of a house before, four-fifths of the house instantly becomes cheaper because of the impact of automation.

He used this example to set the foundation for the idea of 'universal high income' a concept already floated by other tech billionaires, including Elon Musk. Taxation needs to change to enable the provision of a universal income "We need to change from taxing human labor to taxing value added," he said. "So when the robots add value, all that value that the robots add is taxed, and we could have universal high income." What to read next 5 things you need to know about the big AI 'slowdown' battle Gartner thinks these four trends will shape the future of work so what will they mean for you? It's our mission to empower every person and every organization on the planet to achieve more: Microsoft CEO Satya Nadella outlines what businesses need to conquer the AI frontier ecosystem

Universal high income is an evolution of the universal basic income concept, which provides citizens with a regular payment that covers essential living costs. Instead, he suggested that the enormous productivity gains that AI could eventually unlock could create enough wealth to support much higher incomes, despite declining human work activity.

He referenced economist Milton Friedman's negative income tax proposal, describing it as a "reverse income tax" that could help distribute some of
the wealth generated by AI.

"The robots are adding value. The government's taxing the value... We all become wealthy as a result."

However, Ellison's vision is a wildly ambitious one that would require a colossal change to today's systems. It would take more than a decade, he admitted. While a future of AI-induced human wealth with less work might
sound far-fetched at best in today's economy, Ellison's optimism remains on track.

"All of that is doable," he concluded.

layoffs.fyi has tracked over 135,000 layoffs in the tech sector alone in
2026 to date, including around 21,000 Oracle workers in the 12 months between June 2025 and June 2026, and likely thousands more in September 2026 . Follow TechRadar on Google News and add us as a preferred source to get our expert news, reviews, and opinion in your feeds.



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