I kind of doubt he'd do that. AFAIK most of Elon's wealth is in Tesla shares, and a lot of them are pledged against loans. If his Tesla shares go done seriously in value that could leave him open to margin calls.

Over time, he may be able to unload those Tesla shares, making him less tied to the company, but I'd guess it'd take a while to sell that stock without risking a serious share price drop.