I don't know much of the financial details of how this would work exactly, but it sure seems like ELMU is playing with some serious fire by going ahead with the Twitter purchase to save face, when paying to not do the deal was likely the much more prudent move
My understanding is he didn't sell much Tesla stock, just took out loans against it. So if Tesla :stonks-down: then Musk is gonna be in some trouble that forces him to sell more in a vicious cycle ... allegedly. Again, I'm no fin bro, so maybe he has some special billionaire insurance policy mechanism in place, but I highly doubt he is thinking that far ahead.
edit:
With the response to his Twitter moves going quite poorly, maybe the confidence in Tesla also starts to tumble. As far as I understand, the 'fundementals' of Tesla don't make any sense from a traditional investment perspective. All of ELMU's wealth is built on a cloud of hype along side govt subsidies that can end.