Ron Baron Has Made $6 Billion on Tesla, Defends Elon Musk [VIDEO]

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Photo: CNBC

Tesla’s stock has been shooting through the roof recently, and in a recent interview, one bullish shareholder says he’s made billions of dollars on Tesla’s stock – but he isn’t done yet.

Tesla investor Ron Baron said on Wednesday that he’s made $6 billion USD on investments into Tesla’s stock, according to CNBC.

Baron also added that he’s planning to hold the shares for at least another 10 years, with his current firm holding nearly 6 million shares of Tesla, at a cost of $42.88 each.

On CNBC’s Squawk Box, Baron said, “We made our clients $54 billion in profits, and that $54 billion in profits included about $6 billion from Tesla from a $380 million investment, you know seven or eight years ago.”

Baron also added, “When I first met Elon 10 years ago I was skeptical about whether it would be successful, and it’s only after we started producing the Model S that we began to purchase stock.”

The investor also pointed out how it wasn’t fair the White House invited traditional automakers to celebrate a transition to electric vehicles, but snubbed Tesla.

Tesla’s stock surpassed a $1 trillion USD market capitalization for the first time earlier this week, while the company’s shares are also selling for over $1,000.

Baron is also excited about Musk’s SpaceX ambitions, saying that most people wouldn’t be as interested in space were it not for the mega-billionaire.

In response to a discussion about U.S. democrats proposing a billionaire tax, Baron added that he thinks the U.S. government needs to be more appreciative of Musk.

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