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“Elon Musk destroyed USAID as a mechanism for killing off as many of the global poor and non-white as he can before they kill him first (as he, insanely, believes)” is not a conspiracy theory. In truth, it’s very hard to conclude anything else.

I suspect that Musk's starting point was that he was appalled by the idea of aiding, in any way, the non-white poor of the global South. I doubt he even knew, at first, what sort of death toll destroying USAID would cause. That said, when somebody told him, I've no doubt he was gleeful.