The world’s wealthiest person is increasingly concerned about his dollar savings. Elon Musk has warned against the use of the greenback as a sanctions tool as it will inevitably lead to de-dollarization. Indeed, money should never be part of political intrigues. Otherwise, it risks losing trust, and the US dollar is no exception.
The founder of SpaceX, Tesla, and The Boring Company, the rightful owner of Twitter, and the co-founder of Neuralink and OpenAI fears that the greenback might lose its global dominance if used in sanctions. Musk posted a tweet sharing his concerns that the systematic use of the dollar in sanctions might undermine its supremacy. That was his response to the post of a user who highlighted that de-dollarization was now happening ten times faster than in the previous two decades and that the dollar share went from 73% in 2001 to 55% in 2020. "If you weaponize currency enough times, other countries will stop using it," Musk wrote.
