Longtime Tesla (NASDAQ:TSLA) shareholder and billionaire investor Ron Baron of Baron Capital recently weighed in on Tesla and Elon Musk’s potential in the coming years of the Trump administration. As per the legendary investor, Tesla could hit a market cap of about $5 trillion in 10 years.
During an interview with CNBC’s Squawk Box, Baron noted that Tesla already comprises about 10% of Baron Capital’s assets, while SpaceX comprises about 5%. The investor noted that he is optimistic about Tesla’s future, though Musk is arguably more optimistic.
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“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.
🚨 Ron Baron drops insights on $TSLA at the 31st Annual Baron Investment Conference:
“Tesla is a $5 trillion company in 10 years without Optimus, just the current business plan.”
“Elon thinks Tesla could hit $30 trillion long-term.”
“Elon Musk will bring the efficiency of… pic.twitter.com/9mJ72ANAhn
— Herbert Ong (@herbertong) November 15, 2024
While such statements might seem overly optimistic just a few months ago, TSLA stock has been maintaining some momentum since its third quarter earnings call. Tesla stock practically woke up from its slumber after the company exceeded expectations in its Q3 earnings, and it has only become stronger with the election of Donald Trump.
This November alone, TSLA stock has surged about 25% during the electric vehicle maker’s post-election rally. Tesla currently has a market cap of $1.02 trillion as of writing. Despite TSLA’s recent rise, as well as the fact that his holdings have significantly grown over the years, Baron noted that he is still determined to keep his Tesla shares long term.
“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,” Baron noted.
Watch Ron Baron’s interview with CNBC in the video below.
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