Billionaire Tesla bull Ron Baron says Musk suggested he would make multiples on his $100 million Twitter investment

billionaire Ron Barron said Tuesday Tesla CEO Elon Musk suggested he would make multiples of his $100 million investment in Musk’s tech private deal for Twitter.

“He told me he thought I was going to make two or three times that in three years,” Barron said on “Squawk Box.”

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Barron has long been bullish on Tesla, telling CNBC’s Becky Quick that Musk has built Barron’s “$5 billion dollars so far, on a $400 million investment.” In 2021, the investor told CNBC that he owned about 6 million Tesla shares through his investment firm, Baron Capital.

Barron’s $100 million Twitter investment was predicated on his longstanding confidence in Musk as an executive and his marketing skills, he said.

“I don’t want to talk more about Twitter, because I’m not an expert on it yet, but he explained that when we made our investment, he saw that there was a lot of cost, it was incredible. It’s going pretty bad.” Barron said Tuesday.

Musk’s acquisition of Twitter has been fraught and, by Musk’s own admission, “extremely tight.” Since it closed its $44 billion acquisition of Twitter in October, the company has implemented massive layoffs, rescinded its “permanent” work-from-home policy, and paid bills. I have been sued numerous times over failures, including private jets and rent on Twitter. San Francisco headquarters.

On Sunday, Musk said Twitter was “trending toward breakeven now.”

Barron was unmoved by Twitter’s apparent close shave with bankruptcy.

“He’s the most famous man in the world, I guess,” Baron said. “Everybody else spends $1,000 to market a car, they spend nothing, because everybody knows Twitter.”

“He doesn’t spend anything because everybody knows who he is,” Barron said.

Correction: Billionaire Ron Barron said Tuesday that Tesla CEO Elon Musk suggested that Barron would make multiples of his $100 million investment in Musk’s take-private deal for Twitter. The nature of Musk’s comments was misstated in an earlier version of this article.

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