He created a new holding company (X Holdings) for this acquisition that will also be a parent company to Tesla and Space X (see https://www.bloomberg.com/news/articles/2022-04-21/musk-form...). So he'll be able to carry forward all of the losses against his income from other businesses.
> He created a new holding company (X Holdings) for this acquisition that will also be a parent company to Tesla and Space X
AFAICT, it was very nebulous at the time that it ever would be a common holding company for those (and Musk’s other companies), and very good reasons were cited for being skeptical that that would be workable. And, to my knowledge, none of the other companies has been put under X Holdings.