India, Dec. 18 -- Elon Musk has reacted to billionaire investor Ray Dalio backing Trump Accounts, a new proposal involving investment accounts for children. Although the world's richest man appreciated the gesture, he claimed there was no need for such a step, suggesting that poverty would be eradicated and everyone would have a "universal high income."

Taking to X, Ray Dalio posted, "I personally appreciate the Trump administration's launch of the Trump accounts, appreciate the Dells for piling on with their support, and appreciate both of them for allowing Dalio Philanthropies and others to join in," as a part of his statement about the matter. Michael Dell is backing the Trump administration's proposal.

Elon Musk reacted to the share...