NEWS: Billionaire investor Ron Baron has placed a $1 billion order for SpaceX IPO shares and says he is not selling in his lifetime.
Baron, the founder and CEO of Baron Capital, laid out his case on a client call. His firm has put about $2 billion into SpaceX across 27 employee tender rounds since 2017, a position now worth roughly $15 billion after compounding at 54% per year.
He believes SpaceX, coming public at under $2 trillion, will reach $10 trillion to $30 trillion within 10 to 15 years and become the largest, most profitable company on the planet. People inside the company tell him he is lowballing it.
On Starlink alone, Baron projects 300 million subscribers and about $1 trillion in annual revenue within a decade, making it worth around $14 trillion on its own.