Investment guru Ron Baron, who made billions investing in Tesla, thinks Elon Musk’s space company SpaceX “has a chance to be just as large.”
“SpaceX I think has a chance to be just as large as Tesla,” Baron recently told CNBC’s “Squawk Box.”
While Baron Capital first purchased shares of SpaceX in 2017, the firm has continued to expand its position in the rocket builder as recently as the third quarter of this year, CNBC said.
The Baron Asset fund disclosed that it purchased $26 million worth of SpaceX stock during the company’s recent $2.1 billion fundraise, which Baron said raised SpaceX’s valuation to about $44 billion.
Meanwhile, Tesla’s market valuation has soared to more than $430 billion.
“What I want to be known as, ultimately, is not just the Tesla guy, but also the SpaceX guy,” Baron told CNBC. “In the next couple years I’m going to be talking to you a lot more about SpaceX than I’m going to be able to do right now.”
For his part, Tesla Inc Chief Executive Officer Elon Musk plans to list SpaceX's space internet venture, Starlink, several years in the future when revenue growth is smooth and predictable.
"Public market does *not* like erratic cash flow haha," the billionaire entrepreneur tweeted last month.
Musk said last year that Starlink was an important new revenue stream for his California-based Space Exploration Technologies, or SpaceX.
SpaceX President Gwynne Shotwell in February floated the idea of spinning Starlink off for an IPO in the coming years.
SpaceX is racing to build out its Starlink satellite constellation to offer broadband internet commercially by the end of 2020, Reuters said.
Musk, in his tweet, also said he is a "huge fan" of small retail investors and will ensure they get top priority.
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