He is. You don't lose that much money. He could lose 99% of his wealth and still be a billionaire, and one of the richest people in the world. He's unstoppable without heavy-handed legislation. He is the government, him and his couple of pals who are running the country from behind the curtains.
Musk is a constituent part of the US military-intelligence-propaganda-industrial complex, as many US oligarchs are. Just thinking of tech oligarchs alone, off the top of my head, other such members are Andreessen, Bezos, Brin, Ellison, Schmidt, Thiel, and Zuckerberg.