Ron Baron: I don't expect to sell my personal Tesla or SpaceX shares in my lifetime

Core Insights - The investment in Tesla has yielded significant returns, with approximately $8 billion made since the initial investment of $400 million, and an additional $4 billion from SpaceX, totaling around $12-13 billion since 2017, with expectations of fivefold returns in the next decade [2][4]. Investment Strategy - The investment manager has a high concentration in Elon Musk's ventures, with 65% of personal investments tied to Tesla, SpaceX, and x AI, specifically 40% in Tesla and 25% in SpaceX, with the remaining 35% in mutual funds [4][5]. - The mutual funds have 22% invested in SpaceX and Tesla, with 11% each, and a smaller investment of $350 million in AI, which has doubled in value to $700 million [5]. Historical Context - The investment manager previously sold 30% of Tesla stock for clients due to concerns about the large position size, but maintained personal holdings, committing to not sell until clients had fully exited their positions [7][10][12]. - The stock had stagnated for several years before experiencing a significant increase following political events, leading to further sales for clients while the manager retained personal shares [10]. Future Outlook - There is a strong belief in the potential for Tesla's stock to increase significantly, with projections suggesting it could reach four times its current value in ten years, driven by advancements in automotive technology and robotics [17][18]. - The introduction of the Optimus robot is seen as a pivotal development, with expectations of producing a million units next year and potentially scaling to ten million, which could revolutionize labor efficiency [18][19].