How much trouble is Elon Musk in? My answer: not much.
You have to understand how the liberal media FUD machine works: they take a non-story and then blow it up in order to propagate their underlying narrative/goal/desire, and then they try to wrap it in under a false pretense of journalistic impartiality, when they are anything but impartial by presuming his guilt.
They hate Musk because he dared to question the fake news media. They hate Tesla because of supposedly poor factory working conditions, even though people want to work for Tesla, and Tesla has good ratings on indeed.com.
Unless he committed insider trading, it’s hard to imagine a scenario in which he goes to jail. Most likely it was an innocent procedural mistake and he will be fined. As for the Saudi investment, what possible incentive or motive is there for him to lie? What does he stand to gain, especially given that Tesla is already very successful and the stock is at near historic highs? If Tesla were struggling, then it would possibly make more sense, but not when the stock is already so high and Tesla is able to secure funding from the capital markets if it needs to. It makes no rational sense for someone so wealthy and successful to throw away his reputation on a fake announcement or insider trading.