Musk didn't found Tesla, he invested into it when it was small. Musk brought good marketing and gave the people who were declined at GM a platform. So far so good.

It was a success. He got more investment, built factories, became market leader. Built an industrial stack where there was none.

And gradually he got crazy. Dodgecoin, Nazi gestures, thinking he has to safe humanity because left radicaly are destroying it.

Instead of cutting down on costs, Tesla insisted it is the only electrical car and priced it as such. Not to mention the cybertruck disaster everybody saw from miiles away.

Meanwhile, the Chinese have the best electrics with the currently best industrial basis for production and cheap resources.

Musk has too much money, got lucky with an investment and started becoming complacent. The rest of the story writes itself.