Billionaire investor Ron Baron is standing by his bullish thesis on Tesla.
Billionaire investor Ron Baron is standing by his bullish thesis on Tesla , seeing the Elon Musk-led electric vehicle maker growing as much as fivefold in the future. The Baron Capital chairman and CEO revealed that his firm has made about 20 times its investment in Tesla since he first bought the stock in 2014. Tesla is the biggest holding in Baron's oldest and biggest fund, Baron Partners Fund , accounting for 46% of the portfolio.
The investor said Tesla's car business can grow 30% in revenue this year and in 2024. Meanwhile, its battery business, which is $6 billion a year, could triple over the next three years. Baron is also bullish on SpaceX , Musk's private space company, saying he's one of the largest investors with 17.5 million shares worth more than $1 billion. "No company can compete because nobody can make these rockets go up and come down and land again," Baron said.
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