Billionaire investor Ron Baron said he will hold Elon Musk’s position at SpaceX for the rest of his life. “You’d think it’s probably 10 years at least at SpaceX,” Baron told attendees at the Morningstar Investment Conference in Chicago. “And I don’t think SpaceX will sell shares in a lifetime.” The conviction of SpaceX’s Baron Capital Chair and CEO comes primarily from the extraordinary growth that Private Held Space Exploration Company has seen since its original investment in 2017. At the end of March, SpaceX was the second-largest ownership in the Baron Partners Fund, which is about 30% behind Tesla and about 18% of its portfolio. “We have since been one of the biggest, if not the biggest buyers in each of these transactions. We have now invested 1 billion worth of $4.5 billion. With a company worth $350 billion, I think we’ll make ten times more money again in 10 years,” Baron said. “Eron thinks it’s a ridiculous number. He thinks we’re going to make 30 times.” “Alpha is wherever you look. If you’re going to buy something you have to imagine what it will be,” he added. TSLA 5Y Mountain Tesla is a private investment of over five years, with SpaceX being the exception to Baron. This is largely due to his admiration for Musk and his preference for what he calls “exceptional executives.” Baron made his name by highlighting public growth companies. In a Chicago keynote address, Baron explained that he first met Musk in 2010, saying that he has held the tab of unorthodox businessmen for years before investing in his company. “I met him in 2010. And he comes to my office… he wears cargo pants, he’s not shaved, his hair is everywhere. He wears a plaid sports jacket and a plaid shirt, and they don’t match,” Baron said. “So, we’re talking, so he tells us how he has 20 million cars a year.” “That doesn’t seem to be much trustworthy,” Baron continued. “So I continued to pursue him, study him, visit him. Every few months, I called him.” The 82-year-old baron invested $400 million in Tesla between 2014 and 2016. Tesla doubled 63% in 2024 and doubled in 2023, then fell by more than 19% in 2025.
