Elon Musk set social media abuzz this February 5 after posting on X that “whoever said ‘money can’t buy happiness’ really knew what they were talking about,” accompanied by a sad emoji. The viral message, shared shortly after his net worth topped roughly US$800 billion, drew widespread reactions, from supportive reflections to sarcastic jokes and philosophical debate about wealth and emotional well-being. Many questioned whether someone so wealthy could truly speak to the idea.
Musk’s comment struck a nerve because it challenges one of our most deeply held assumptions about money. For many people, the very idea of winning the lottery is enough to put a smile on their face. We tend to believe that coming into a huge pile of cash could only improve our quality of life and, by extension, make us happier. Yet research suggests that this relationship between wealth and happiness is far more complicated than it seems.
While happiness is impossible to definitively quantify, researchers have spent years trying to determine whether winning the lottery actually makes people happier. Check out this gallery for some insight into what the evidence reveals.