Tesla had more than $125bn (£99.3bn) wiped off its market value on Tuesday.
One analyst said the slump in Tesla's value may pose problems for a $12.5bn loan Mr Musk has secured against his stake in the company.
The issues highlight the challenges he faces as he tries to run five firms.
Tesla's share price has taken a hammering, with some investors wondering whether Mr Musk's Twitter purchase is bad for Tesla.
Shares dropped 12.2% from just over $1tn to $906bn.