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He does have a point.
There has even been government enquires about this. Just because something is at the expense of white men doesn't mean it isn't racist. It's just as racist as if it was any other group.
Yes, rich white men like Musk are very oppressed and getting very racismed.
Under most definitions of racism that's not true. Racism is usually defined as towards a minority or marginalized group. Discrimination toward the dominant group isn't racism how it's usually understood.
Conservatives are trying to redefine it, but that's not the legal or academic definition anywhere where the courts haven't been hijacked by conservative nutcases.
The original definition was "the theory that distinctive human characteristics and abilities are determined by race". So saying "white people can't dance" is racist, but "I ought to hire more black people" isn't, by any definition.
But since world war II the word has connotations of discrimination, superiority and harmful intent. Words change so the original definition isn't the correct one.
The problem is there's a massive divide between racism and the colloquial racism. One is a discussion of how beliefs and systems disadvantage people based on the status of their birth. The other is being mean to people because of the color of their skin.
Sure, both are "bad". But suggesting that they're the same thing or have similiar impact is laughable.
The "racism" Elon is on about doesn't exist, because people born into every potential benefit being unable to reap those benefits because we're doing our best to change the system aren't disadvantaged. But when you've been told your whole life that you deserve to win, you're inclined to cry "cheat!" every time the system is changed to be more fair.
Are you implying that having DEI is somehow at the expense of white people?
It isn't at the expense of white men though, so you're wrong. Simple as.