It used to be common to point out that 1/3rd of all of the self-made multimillionaires in the USA eventually go bankrupt. I don't know what the current statistic is, but 20 years ago I studied the issue in some detail, and the pattern was:

1. entrepreneur sees an opportunity that no one else sees

2. entrepreneur takes some big risks to take advantage of the opportunity

3. entrepreneur becomes wealthy because they took risks to take advantage of the opportunity

4. other entrepreneurs (or businesses) become interested now that the new opportunity has been proven

5. after 10 or 20 years of hard work, the original entrepreneur wants to shift their attention elsewhere, maybe relax, at the very moment that outside money is pouring into this opportunity

6. original entrepreneur goes bankrupt, as their attention was shifting away from their business just as competition was intensifying.

On a much larger scale, it seems Elon Musk is at risk of exactly this pattern. His attention shifted away from Tesla just as Tesla is facing increasing competition.