Tesla CEO Elon Musk said in a recent interview that the United States has been a beneficiary of Indian talent, while adding that the H1-B visa program has been abused by companies. In a podcast interview with Indian entrepreneur Nikhil Kamath that aired on Sunday, Musk said that while some companies have been using H-1B visas to hire foreign workers at "a fraction of the cost of U.S. citizens," his company recruits foreign workers to make up for the "scarcity of talent."
U.S. President Trump raised the H-1B visa fee to $100,000 in September, disproportionately affecting Indian workers who account for more than 70% of H-1B visa holders. Trump appeared to soften his stance on H1-B visas last month, saying in an interview that the U.S. sometimes needs foreign workers because the U.S. doesn't have "certain talents."
"I certainly don't think we should shut down the H-1B program," Musk said, adding that would be "very bad."
Musk's relationship with President Donald Trump has appeared to be improving recently after souring in May over disagreements over Trump's spending bill, but he has also expressed concerns about the administration's tariff policy. Musk said in the latest interview that he had tried to dissuade Trump from taking the tariff route but was unsuccessful.
"I think free trade is better in general," Musk said, adding that tariffs distort markets. He said that if tariffs between individual countries or U.S. states would have a catastrophic impact on the economy, "then why impose tariffs between countries?"
However, Musk said: "The president has made it clear that he likes tariffs."
In his interview with Kamath, Musk touched on a wide range of topics, and he also laid out his vision for the future, predicting that in less than 20 years, work will be optional and money as a concept will "disappear."