Incorrect. Earlier on, his parents were well educated and had good jobs, and enough money that his father owned an airplane. This alone makes your "at best" remark highly inaccurate. At a minimum in Musk's early life he was very comfortably in the middle of the middle class, but I would class nearly any family with enough disposable income to have an airplane to be "wealthy". Your standards for this may vary, and I'm open to your definition of wealthy being much higher, but his family was far from poor.

On top of that, his father has claimes he sold the plane for the equivalent of about $300,000 in today's money and used some of it to purchase shares in gemstone mine, which then went on to make them even wealthier. This isn't independently confirmed. His father may have exaggerated. However others have said his family also own the largest house in the area, which sounds wealthy to me.

Elon has disputed some of this, but not offered details beyond merely disputing some of this. He said his parents have been supported financially for the last 20 years, but going back 20 years from when he made that statement would put it in the late 90's, so it is not incompatible with growing up wealthy even though he now supports his parents. Plenty of multi-millionaires would tell their parents, "Hey, if you don't want to you don't have to work anymore. I got this".

Also none of this is incompatible with Elon's own account of arriving in Canada with little money & ending up with student debt. It's possible Elon exaggerated but for these purposes I'll take him at his word. Because by his own account Elon didn't like Apartheid. His father also has a reputation of being quite an asshole. It would be perfectly understandable for him to "peace out" and go his own way, and it wouldn't change the fact that growing up his family was wealthy. In fact I know someone who did pretty much the same thing: Their father was terrorized the family in fear & abuse, but was extremely successful with a very expensive first house, another vacation home, etc. His father wanted him to continue in his (professional) footsteps but he wanted none of it, joined the military for the free education and after getting out went on to become extremely wealthy himself.