Billionaire investor Ron Barron, a longtime Tesla bull and shareholder, believes Tesla’s market cap could reach $5 trillion within 10 years, and CEO Elon Musk said it had even higher numbers in mind in the long term. “I think Tesla is worth $3.” [trillion] Based on business plans that I know of, it’s $4 trillion to $5 trillion over 10 years. And Elon believes it’s worth $30 trillion over the long term,” Baron said on CNBC’s “Squawk Box” on Friday. At $3.65 trillion, NVIDIA was the largest company in the U.S. by market value as of Thursday’s market close, surpassing Apple and Microsoft. Tesla closed Thursday with a market capitalization of $1.12 trillion, according to FactSet data. In 2014 and 2016, the EV company gained mainstream support and said it had brought him $6 billion in profits to date. TSLA ALL Mountain Tesla Tesla is seen as a big beneficiary of Trump’s promised There is. Musk, who has a key role in administration policy this year as he is a prominent backer and donor to the president-elect, was recently appointed by Trump to the lead role of leading the so-called “Department.” Tesla stock rose about 25% in November’s post-election rally, returning it to a $1 trillion market cap. Barron said he will continue to hold Tesla stock for the long term. “I have no intention of selling the stock. If it gets too big, I might have to cut back a little bit, but no, I have no intention of doing that,” he said. Baron Capital’s chairman also makes a bullish case against Tesla regarding the prospects for Optimus, a humanoid robot currently under development. At last month’s “We, Robot” event, Musk said Tesla was making progress with Optimus and that it would ultimately cost between $20,000 and $30,000, adding, “Be a teacher, babysit your kids. “Walk the dog, mow the lawn, pick up the groceries…anything you can think of.” “The idea is that these robots…are his biggest yet. “We think it’s going to be a business,” Barron said. “He said everyone would have robots.”
