Elon musk and Donald Trump and others are not stupid. They may act stupid. Their brains may be psychologically damaged by the distance their money allows them to put between themselves, others, and the consequences of their actions.
But they are not stupid. If they were stupid, their stupidity would sometimes bite them in the ass in a way that actually has consequences for them. Since that does not happen, we can be relatively certain that their actions are going according to plan...their plan? Maybe. Or their accountant's plan. But until a mistake costs them actual money that they cannot recoup through tax shenanigans, I find it hard to accept that they aren't just evil.