Billionaire investor and Tesla bull Ron Baron poured $100 million into Elon Musk's Twitter takeover
Billionaire investor Ron Baron poured $100 million into Twitter during Elon Musk's takeover of the social media company last year.Tuesday, Baron said he was promised that he would make"two to three times" his money on the investment.
"He explained when we made our investment that he saw that there was a lot of cost there. It was incredibly poorly run," Baron said, referring to Musk. Since Musk closed the $44 billion acquisition of Twitter in October, the company has announced mass layoffs and warned on bankruptcy risks as advertisers continued to flee its platform. However, MuskBaron said he decided to invest in the platform because of Musk's experience as an exec and his marketing abilities. Musk has a huge public outreach, garnering over 128 million followers on Twitter.
"He's the best-known man in the world, I guess," Baron told CNBC."Everyone else spends $1,000 to market a car. He spends nothing, because everyone knows Twitter."Meanwhile, Baron remains upbeat on the EV maker despite shares being down 35% in the past year. He has been an investor for nearly a decade, with a combined stake of roughly $4 billion.
Baron expects that Tesla will eventually surge to a $4.5 trillion valuation, a 625% increase from its
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