{"id":84142,"date":"2023-11-13T19:58:25","date_gmt":"2023-11-14T00:58:25","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/pretty-hairy-right-now-billionaire-investor-ron-baron-breaks-down-his-x-investment\/"},"modified":"2023-11-13T19:58:27","modified_gmt":"2023-11-14T00:58:27","slug":"pretty-hairy-right-now-billionaire-investor-ron-baron-breaks-down-his-x-investment","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=84142","title":{"rendered":"\u2018Pretty hairy right now\u2019: Billionaire investor Ron Baron breaks down his X investment"},"content":{"rendered":"
\n

Ron Baron recently gave a candid take on his investment in X about a year after the social media platform, formerly known as Twitter, was purchased by Elon Musk.\u00a0<\/p>\n

\u201cIt is pretty hairy right now,\u201d Baron said on stage at the annual Baron investment conference at Lincoln Center in New York. The billionaire investor \u2014 the founder, chief executive officer and portfolio manager at Baron Capital \u2014 was asked about his investment during the Friday event.<\/p>\n

\n

Baron said he has invested $100 million in X, including $65 million of fund money and $35 million of his own personal capital. The sum is \u201cnot critically important,\u201d he said, although the Baron CEO naturally said he is hoping that \u201cit works.\u201d Musk took X private in late 2022.<\/p>\n

By contrast, Tesla Inc.
\n TSLA,
\n +4.22%<\/bg-quote>
\n and SpaceX are \u201ccornerstone\u201d investments for the firm, Baron said, with the two Musk-led companies representing 14% of assets. A spokesperson for Baron told MarketWatch at the conference that the firm has about $40 billion of assets under management across its funds, with around 10% in electric-car maker Tesla and 4% in rocket and spacecraft manufacturer SpaceX.\u00a0<\/p>\n

An email to X\u2019s email address for press inquiries, seeking comment on the performance of the company since Musk\u2019s buyout, received an immediate reply stating, \u201cBusy now, please check back later.\u201d<\/p>\n

Citing third-party data, Reuters reported in October that X had year-over-year monthly U.S. ad revenue declines of at least 55% every month since Musk bought the business.<\/p>\n

Generally for Baron, the key to investing is \u201cnot selling,\u201d which he said sometimes can be hard.\u00a0<\/p>\n

\u201cOwning, not buying and selling, is how wealth is created,\u201d said Baron, highlighting at the conference his approach to long-term investing.<\/p>\n

As he seeks to own companies, Baron said that one thing he looks for is leaders who are \u201cobsessed\u201d with the business\u2019s vision and growth. He pointed to Musk as a visionary obsessed with space engineering and electric cars and said\u00a0 that SpaceX and Tesla hire the \u201cbest engineers on the planet.\u201d<\/p>\n

Baron is not the only high-profile investor who has voiced enthusiasm for Musk.\u00a0<\/p>\n

In May, ARK Investment Management founder and CEO Cathie Wood described him as a\u00a0 \u201crenaissance man\u201d and expressed support for his leadership of X and Tesla, according to an Axios report that month. In April, ARK estimated Tesla\u2019s shares could skyrocket to $2,000 each in 2027, implying a value of more than $6 trillion for the company.<\/p>\n

Tesla shares have soared more than 80% so far this year as of Monday afternoon, with the company trading at a market value of more than $680 billion on Nov. 10, according to FactSet data.\u00a0<\/p>\n

In Baron\u2019s view, the value of Tesla\u2019s autonomous-driving business alone is more than its market capitalization, estimating at the conference that it\u2019s probably worth around $1 trillion.<\/p>\n

DataTrek Research views Tesla as \u201cits own, highly idiosyncratic, animal,\u201d according to an emailed note from the firm on Monday.<\/p>\n

\u201cIs Tesla a car company, a Tech company, a clean energy play, or even just a super-charged way to profit from lower interest rates? The answer is \u2018none of the above,’\u201d\u00a0DataTrek co-founder Nicholas Colas wrote in the note. \u201cTesla is Tesla: a play on the disruptive potential of autonomous driving.\u201d\u00a0<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Ron Baron recently gave a candid take on his investment in X about a year after the social media platform, formerly known as Twitter, was purchased by Elon Musk.\u00a0 \u201cIt is pretty hairy right now,\u201d Baron said on stage at the annual Baron investment conference at Lincoln Center in New York. The billionaire investor \u2014 […]<\/p>\n","protected":false},"author":1,"featured_media":67628,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-84142","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\n\u2018Pretty hairy right now\u2019: Billionaire investor Ron Baron breaks down his X investment | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Ron Baron recently gave a candid take on his investment in X about a year after the social media platform, formerly known as Twitter, was purchased by\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=84142\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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