Investor Ron Baron says tech selloff an opportunity, won’t sell own Tesla stake

Billionaire investor Ron Baron remains steadfast in his commitment to his investments, particularly in Tesla, despite the recent tech selloff. In a recent interview on CNBC’s “Squawk Box,” Baron expressed his belief that the market downturn presents opportunities for savvy investors to capitalize on undervalued stocks.

When asked about his response to the current market volatility, Baron stated that he is focused on identifying potential bargains and taking advantage of them. He emphasized that he has not sold any of his personal Tesla shares, highlighting his unwavering confidence in the electric vehicle maker.

Baron’s dedication to Tesla is evident in his decision to hold onto his shares, even in the face of criticism from clients and the media. While Baron Funds sold a portion of their Tesla holdings in response to external pressure, Baron himself did not part with a single share. With approximately 40% of his personal net worth invested in Tesla, alongside significant stakes in SpaceX and Baron mutual funds, Baron’s commitment to these companies is unwavering.

Despite the recent dip in Tesla’s stock price, Baron remains optimistic about the company’s long-term prospects. He revealed that he has already made substantial profits from his Tesla investments and believes there is potential for further growth in the coming years. In fact, Baron expressed confidence that he could potentially earn five times his current gains over the next decade.

Baron’s loyalty to Tesla and SpaceX is rooted in a promise he made to the board of his mutual funds years ago. He pledged not to sell any of his shares in these companies until all of his clients had divested their holdings. This commitment, Baron stated, extends to his lifetime, as he has no plans to sell his Tesla or SpaceX shares in the foreseeable future.

In conclusion, Ron Baron’s steadfast belief in Tesla and his long-term investment strategy serve as a testament to his confidence in the companies he supports. Despite market fluctuations and external pressures, Baron’s unwavering commitment to his investments underscores his conviction in the potential for growth and success in the companies he holds dear.