Twitter lost ~200 million last year on ~5 billion revenue. With this purchase, the company is burdened with an additional 1.2 billion in interest expense on Elon's loans. Elon would have to fire something like 400% of their workforce (with no resulting loss in revenue) to dig himself out of the hole just from the added interest payments he's on the hook for.
Maybe Elon is still responsible for the loan but maybe Twitter is the collateral. If he fails to repay the loan, the bank seizes Twitter assets but Musk's personal wealth is untouched. Similar to how LLC's shield their owner from being financially responsible.