This is not necessarily true at all. Based on what I've heard of Jack and Elon, they work 16+ hours a day. I think that's the answer.
Also the above commenter's point, talking to people 16 hours a day does not mean you're working. An engineer's work is quantifiable, so they can be held accountable when they claim they work 16 hours a day. Not so for a manager. Their effect (good or bad) is far more difficult to quantify.