Ron Baron sees Tesla worth $5 trillion in 10 years, says Musk eyeing $30 trillion value one day

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Ron Baron sees Tesla worth $5 trillion in 10 years, says Musk eyeing $30 trillion value one day

Billionaire investor Ron Baron, a longtime Tesla bull and shareholder, believes the electric vehicle company could hit a $5 trillion market capitalization in a decade, saying CEO Elon Musk has an even higher number in mind longer term. “Tesla, I think, is going to be worth $3 or $4 trillion — $5 trillion in 10 years, based upon the business plan that I am aware of. Then Elon believes that longer term it’s going to be worth $30 trillion,” Baron said on CNBC’s ” Squawk Box ” Friday. At $3.65 trillion, Nvidia had the largest market value in the U.S. as of Thursday’s market close, ******* than Apple and

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, according to FactSet data. Tesla closed Thursday with a market cap of $1.12 trillion. Baron first invested $400 million in Tesla between 2014 and 2016, and said the early bet has made him $6 billion so far as the EV company gained mainstream acceptance. Tesla represents 10% of Baron’s entire portfolio across different funds. TSLA ALL mountain Tesla Tesla is seen as a big beneficiary of promised Trump administration policies as Musk has this year been a prominent backer and donor to the president-elect. Musk recently got assigned a starring role by Trump, leading the so-called Department of Government Efficiency , along with Vivek Ramaswamy, former *********** presidential candidate. Shares of Tesla have surged about 25% in November alone during the postelection rally to return to a $1 trillion market cap. Baron said he will hold onto his Tesla shares for the long run. “No way I’m going to sell shares. If they get too big I will have to trim a little bit, but no I have no intention” of exiting, he said. The Baron Capital chair has also built his bullish case for Tesla on the prospect for its Optimus humanoid ****** now in development. Last month at a ‘ We, ****** ‘ event, Musk said Tesla has made progress on Optimus and that it will eventually cost between $20,000 and $30,000, adding it will “be a teacher, babysit your kids, walk your dog, mow your lawn, get the groceries … Whatever you can think of it will do.” “The idea is that these robots … he thinks it will be his biggest business ever,” Baron said. “He says everyone will have robots.”

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