In 2016, Ron Baron predicted Tesla would become one of the most valuable companies in the world. His firm, Baron Capital Management, was among the company’s largest investors at the time, with a 1% stake.
The bet has resulted in a $4 billion profit, but Baron thinks it’s just the start — he sees the possibility of tripling that over the next 10 years. He also predicts similar success for SpaceX.
“They’re innovating at the speed of light,” Baron, 78, said in an episode of “Bloomberg Wealth with David Rubenstein.” “And they’re doing that with the cars. And they’re doing that with space.” Read more from our interview at the link in bio.