Shulou(Shulou.com)11/24 Report--

On August 26, billionaire Ron Baron, founder and CEO of Barron Fund, invested $100 million in SpaceX in the past few months. Barron said in an interview on Thursday local time that his shares in Tesla will get a return of three to five times over the next 10 years.

Barron is bullish on Tesla, the electric carmaker led by Elon Musk. Tesla will grow into the world's largest company within 10 years, followed by SpaceX, he added. In recent months, he has also invested about $100m in health care clothing brand Figs, which he calls "the Lulu Ramon of the medical industry".

Barron recently increased its investment in SpaceX by about $100 million and bought shares in the health care and tourism industries.

He said the investment in SpaceX and Figs, a maker of health care clothing, was the biggest recent move. Barron was involved in several previous rounds of financing for SpaceX. SpaceX recently announced on social media Twitter that a joint venture with T-Mobile aims to "increase Internet connectivity".

Barron, who started investing in Tesla in 2014, initially invested $380 million, and he estimates he has made about $6 billion to $7 billion from Tesla's shares. Barron added that he expects his fund to earn three to five times more money on Tesla over the next 10 years.

"in the next 10 years, I think Tesla will be the largest company in the world," he said. "the one who can challenge it most in the next 10 years is SpaceX."

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