Billionaire Ron Baron Adds Another $100 Million to His SpaceX Investment

Ron Baron - Tesla
Ron Baron - Tesla

Billionaire Ron Baron recently added $100 million to his SpaceX investment and bought stocks in the healthcare and travel sectors.

The founder and chief executive of investment management firm Baron Capital told CNBC on Thursday that he also invested about $100 million in Figs, which he called the “Lululemon of healthcare,” in recent months.

He said that the investments in SpaceX and Figs, a maker of hospital scrubs, mark his most significant moves lately. Baron has participated in SpaceX’s previous fundraising rounds. Meanwhile, SpaceX recently announced a joint venture with T-Mobile on Twitter intended to “increase connectivity.”

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Baron also said Thursday he had bought shares of Hyatt, Vail Resorts and Red Rock Resorts, expressing bullishness on the travel sector.

A noted Tesla bull, he estimated that he had made about $6 billion-$7 billion on shares of the EV maker from his initial investment of $380 million in 2014. He added that he expects his fund to make another three to five times its money on Tesla in the next ten years.