Nah, if Musk pisses off Trump he loses hard and fast. Trump could easily get away with making it an official act to strip Musk of all his wealth and instead of turning it over to the state, turn it over to the GOP. Use the guise that it is not communist because they are turning it over to a private company, not the government and it was all done for security reasons after Musk commited treason in dealings with Putin.
The GOP controls the house and Senate, so they wouldn't vote for impeachment, it checks the boxes for being pro capitalism, and anti Russia. And they make buckets off of him. The penalty they set for his Treason, execution. To show they are hard on crime and believe in the death penalty.
Doubt they would even need to fabricate any evidence, it is already there.
The ban is on foreign ownership of media being spread to our population. So long as the majority owner is Musk, it's legal unless he was deported.