Investing
Billionaire Investor Ron Baron Raves About Elon Musk’s Tesla Technology: ‘The Time to Buy the Stock Is Now’
Ron Baron recently praised the Full Self-Driving (FSD) capabilities of Elon Musk‘s Teslas and asserted that people should invest in the company.
During an appearance on CNBC’s Squawk Box last month, the billionaire investor, 83, revealed he bought a special-edition Model S — only 250 were made — and raved about the FSD technology, declaring, “This car is unbelievable.”
“All the cars have self-driving. If you want it, you pay $100 a month. We have one out in East Hampton,” he shared. “It is my favorite car I’ve ever had.”
The founder of Baron Capital said the vehicle, which he’s “never selling,” actually “Cost twice as much as the ones they had before,” referring to the original Model S, which is no longer made and went for about $80,000, according to Baron. He estimated he paid around $160,000 to $170,000 for the special-edition Model S.
Host Becky Quick pointed out that Baron Capital holds about $5 billion in Tesla, and Baron said he has about $1.5 billion of his personal investments in the company. He urged others to invest.
“The time to buy the stock is now. All this FSD is catching on, and it’s gonna be bigger and bigger and bigger,” he said. “Fifty five percent of the new people that are getting it are buying this with the self-drive. It’s gonna be everywhere. It’s safer.”
Baron Capital also has $25 billion worth of SpaceX shares, Quick noted, and Baron said he has $5 billion of his own shares in SpaceX.
