Tesla Inc (NASDAQ: TSLA) will grow five times its current valuation and will become a $2 trillion company, according to billionaire investor Ron Baron, the CEO of Baron Capital, a long-term, research-driven investment management firm.
The billionaire investor has long been bullish on Tesla. Baron Capital is a major shareholder in the electric vehicle (EV) and clean energy company.
The investment management firm acquired 1.63 million TSLA shares worth around $320 million at an average price of about $40 per share between 2014 and 2016. At the time, Baron believes his firm’s investment will grow 20 times in 10 to 15 years.
As of September 30, after Tesla’s 5-1 stock split, Baron Capital owns more than 7.3 million TSLA shares. In the first quarter of 2014, the EV and clean energy company’s market valuation was around $96.5 billion.
Tesla’s stock closed at $461.30 per share, up by more than 3.28% on Wednesday, October 14. Its market cap is now around $429.8 billion. TSLA shares rose more than 400% this year, based on data from Google Finance.
