Billionaire investor Ron Baron remains bullish about Tesla’s stock even after years of being a major investor in the automaker. Mr. Baron stated in an exclusive interview on CNBC’s Squawk Box segment that Tesla’s market value can potentially surge as much as fivefold by 2030.
“I think Tesla in the next seven years will be about four or five times as big as it is right now in the stock market.”
Ron Baron, Baron Capital CEO/Chairman
Interview highlights
Ron Baron proudly disclosed that Baron Capital has made approximately 20 times its first-ever Tesla investment since buying the stock in 2014.
In fact, TSLA accounts for a substantial portion of Baron’s oldest and largest fund, Baron Partners Fund (BPTIX), 46%.
“In the funds that I manage, I’ve been maxed out … when the stock went up 20 times….As far as buying more, I would buy more if I could but I can’t.”
Ron Baron, Baron Capital CEO/Chairman
The Baron Capital CEO further projected Tesla’s carmaking business to enjoy revenue growth of 30% in 2023 and 2024. He also expects Tesla’s battery business to grow threefold from the current $6 billion annual revenue in the following three years.
Likewise, he also forecasts SpaceX’s market value to grow to $500B-$600B from the current $150B. In fact, he is among the company’s major investors, with 17.5 million shares for over $1 billion.
“No company can compete because nobody can make these rockets go up and come down and land again. What is threatened here is cargo. They’re going to have rockets to go from Nevada to Australia. You can move ordinance you can move air freight, anything you want. Thirty five minutes anywhere in the world.”
Ron Baron, Baron Capital CEO/Chairman
About Ron Baron
Teslarati indicated that Ron Baron is an 80-year-old legendary investor and a longtime Tesla bull. He founded his company, Baron Capital, in 1982.
Impressively, 16 out of his 19 mutual funds have already surpassed their benchmark since conception. Notably, these funds account for a whopping 98.8% of the company’s assets, the report stated.
Baron’s remarkable investing skills enabled his company to manage approximately $40 billion at the end of 2022.
See Also:
- Investor Ron Baron believes Tesla stock could reach USD1,500 per share by 2030
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- Cybertruck to be a “homerun” for Tesla as it will “really catapult” stock, industry experts
TSLA stock surged 1.18% in early trading on Wednesday, Investing.com reported. Ron Baron’s bullish outlook on the Musk-led company is unsurprising, given that he has already been among Tesla’s largest investors for many years. Moreover, Tesla’s remarkable efforts in defending its dominant position in the EV industry will undoubtedly increase its market valuation and revenue in the coming years.
