The note about Elon Musk holding American citizenship is incorrect, he only has dual citizenship with South Africa and Canada (which is what makes it even more egregious that he was given such unfettered control over the American government). I'm not sure how to get that fixed, but if this isn't the right place, please do let me know.
Elon Musk was named after his maternal great-grandfather, John Elon Haldeman (1871-1909) who was born in Illinois and died in Saskatchewan after living much of his life in Minnesota. The first Haldemans of this family in America were Swiss Anabaptists who immigrated to Lancaster County, Pennsylvania in the 1720s.
It’s not a great name even without the Musk association. See how easy it was for people to turn "Elon" into "Felon", that would potentially be a huge bullying risk by itself. On top of that, you have it being associated with someone who is deeply controversial, and for younger kids, it’s always gonna be assumed they were named after Musk. It’s a no-go for me.
Going to make a longer comment since Elon Musk has changed a lot since I made the first one. I absolutely cannot stand this name due to the association with Elon Musk. He's such a vile person - he's a racist, an anti-Semite, a son of apartheid, and in recent years he's become Donald Trump's biggest fan. Not to mention he's a corrupt CEO and he actually thinks it's okay to put microchips in people's brains. He's basically ruined this name forever.
Elon is mostly associated with the guy who got rich off of his parents' apartheid emerald mine, so naming your child this now would give you some weird looks. I suggest using a similar-sounding name like Eli or even a cognate like Alon. The meaning is nice though, oak trees are seen as a symbol of strength and endurance, it's quite a unique name overall.
Pre-Elon Musk being a household name, it made me think of Elon College in North Carolina (USA). I knew a lot of rich party kids who went there; it has a reputation of being an expensive school (ergo elite), when you're rich but not smart enough to go to Duke or Vanderbilt. I like the simplicity of the name, but I also think some people might think it's a typo for Leon. Maybe not anymore, though, since Elon Musk is so famous.
Elon Reeve Musk is a South African-born Canadian American business magnate, investor, engineer and inventor. He is the founder, CEO, and lead designer of SpaceX; co-founder, CEO, and product architect of Tesla, Inc.; and chairman of SolarCity. He sent his car to space.
Elon James White is a podcaster, comedian, and political commentator. He is the founder and CEO of This Week in Blackness Media, which is the mothership for what seems like ten million podcasts, including We Nerd Hard, Sportsball, Historical Blackness, and TWiB! Prime.
Elon was a city in the land of Dan (Joshua 19: 43). In the Bible there are two men named Elon, one (Judges 12:11) being a judge. There are variant spellings, following the Hebrew pronunciation - Eilon and Eylon.