It seems like he's talked a lot about the T in LGBTQ, not so much the G? Evidence that he would be especially incensed at getting beat by a gay guy seems thin on the ground unless we insist on treating LGBTQ as a bloc.
(I don't exactly keep up with Musk's doings, though.)
There's that time, soon after he took over Twitter, when he boosted a right-wing conspiracy theory that Paul Pelosi was attacked by a male escort (https://apnews.com/article/2022-midterm-elections-elon-musk-...).
(He later deleted the tweet without explanation.)
This kind of stuff matters when it's amplified to 100M+ people, and he knows it.
I put some of the blame for the Club Q nightclub shooting that happened a few weeks later (https://www.nbcnews.com/nbc-out/out-politics-and-policy/club...)
on this kind of behavior. There's no evidence the shooter saw that tweet in particular, but his homophobia was clearly stoked by this sort of edgelord-ism on social media.
(I don't exactly keep up with Musk's doings, though.)