There are any number of reasons why his particular line of business isn't conducive to it. But he has a hard case to make if he's had people working from home for several years and the company is still doing fine.
There's always the possibility that he has a conflict of interest in the matter, too. That's the case with the CEOs of the big investment banks in New York City. They aren't forcing people back to the office because they really need them to work in the office. They're forcing them back because the investment banks have underwritten billions of dollars of commercial loans on properties in New York City, and the banks need to ensure that the property owners remain solvent by keeping their tenants in business.
He isn't tolerating it. No discussion there. If you want to work from home, you can find another job.
I don't think he has a conflict of interest. He was never a fan of WFH. He was a big opponent of coronavirus lockdowns and even challenged the state of California when they tried to shut down his Tesla plant for an extended period of time.
Now we have data that productivity suffers when you work from home.