Elon would be a roadblock to such a merge. Toyota won't be able to function with him in any managerial position. I doubt he'll accept anything less than full control. He won't be content as an "evangelist".
It seems as though any sacrifices related to "the mission" are expected to come from Tesla and SpaceX employees who have to suffer through periodic rounds of layoffs.
https://variety.com/gallery/elon-musk-buys-fifth-bel-air-hom...
https://www.latimes.com/business/la-fi-elon-musk-mortgages-m...