08/04/2022
Twitter shares soared 27% on Monday after Musk, the world's richest man, revealed a large stake that made him the social media company's largest shareholder, weeks after he criticized the platform for not allowing more freedom of speech.
Although some analysts predict that Musk may show even more interest in Twitter, Baron believes that investments instead "help his marketing," and that "in no way does he take his eyes off projects at his two companies, electric car maker Tesla and rocket company SpaceX.
The "big picture," according to Baron, who has a personal interest as one of Tesla's largest shareholders, is a huge growth potential for the electric car maker, saying he will hold shares for at least another eight years and still expects to earn "three, four or five times our money."
While Tesla shares have fallen about 15% this year and some investors were unhappy with lower-than-expected car shipments last quarter, Baron remains unfazed, predicting, "In four years they will be making a million cars a quarter."
