Yeah, it's a vomit of nonsense that is hard to parse. The first thing is that he says Jewish people put out racist tropes and conspiracies against 'white people'. THEN, in the same sentence directly implies that those racist trops and conspiracy theories that have been used against Jewish people for centuries, most notably prior to and during the Holocaust, aren't real.
So, he's saying, "white people are the real victims here" and all the bad things people have said about Jewish people didn't happen BUT the Jewish people do say those things about 'white people'.
Yeah, it's a lot for just one sentence.
Then he goes on to say that he doesn't care about Jewish people living in Israel but he's glad that 'hordes of minorities', which is Great Replacement Theory (a very racist trope).
So, he packs a bunch of racism into a few sentences- some of it conspiracy theory- and then Musk says "oh, yeah, I agree with that."