Billionaire betting on Tesla Motors


Matthew J. Belvedere,CNBC

Billionaire long-term investor Ron Baron said Tuesday that Tesla Motors (TSLA) could be a stock he owns for the next 10 to 20 years.

“I think this could be one of the largest companies in the United States and the whole world,” the Baron Capital chairman and CEO told CNBC’s “ Squawk Box ” in a wide-ranging interview.

Baron said it’s taken three years to amass a $300 million stake in Tesla, with an average cost per share of $210. “So we’ve made very little so far. But often times it takes us a very long time to [make money].”

Tesla shares closed Monday just over $220 per share.

“I go there every three or four months. I look at the factory and see how much is changing,” Baron said.

Baron said he’s investing in Tesla CEO Elon Musk and the 14,000 workers at the electric-car maker. “The competition is not anywhere. They could have caught him four or five years ago. But they can’t catch him now. he’s too far ahead.”

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For more information: https://finance.yahoo.com/news/billionaire-investor-bets-tesla-being-115701595.html

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