It's definitely closer to "doctor married a lawyer" levels of money than "single mother barista" levels of money, but "wealthy" normally implies enough money to live comfortably without working, not upper middle class.

For context, a doctor and lawyer family in a state capital will earn $2-3m per decade, which is MUCH more than any reasonable estimates of the Musk family's wealth or income.

I earn 2-3M per decade not including investments or IPO. I've sent multiple children to a University. Giving my children 60K-290K in cash while they were studying is not something that crossed my mind once. In fact I would argue you're supposed to struggle a little bit in college.

According to Elon's dad, he was rich:

‘I drove them to school in a convertible Rolls-Royce Corniche, they had thoroughbred horses to ride and motorbikes at the age of 14. They were spoilt, I suppose. Maybe that’s why Elon is acting like a spoilt child now,’.