Elon's wealth is mostly in acquisitions. Even PayPal, co-founded by Peter Thiel, was an acquisition by X.com (the bank), at which point Elon was already ousted as CEO. He came back briefly, trying to convert PayPal infra over to Microsoft much to Thiel's chagrin, but then ousted again in favour of Thiel, who renamed the merged company to PayPal.
So PayPal, an acquisition (not made by Elon). Tesla, another acquisition. And like SpaceX, Neuralink, Starlink, they are built by actual domain experts, with wealth bootstrapped from Elon dad's wealth (who funded Zip2), and Thiel. Thiel successfully built and administered PayPal, along with Amazon one of the few companies to make it unscathed through the dotcom bubble by providing actual business value, and gave a massive boost to Elon's net worth, and it was Thiel that enabled him to acquire Tesla. And it's Tesla's absurd valuation, that's enabled him to buy all the other things he fancies, including a seat at the government.