Billionaire Ron Baron Is 'Incredibly Bullish' On Tesla, SpaceX And This Apparel Company He Calls 'The Lululemon Of Healthcare'

There aren't many investors with a 20-year time horizon at the age of 79, but that's exactly how far billionaire investor Ron Baron is looking ahead, and it's safe to say he's optimistic about what's to come.  

"I am incredibly bullish for my children, for my grandchildren and for me for the next 20 years," Baron said Thursday on CNBC's "Squawk Box."

Baron's Thesis: Baron told CNBC that from the year 0 to the year 1500, the size of the economy and the amount of people doubled. Following the Industrial Revolution around 1800, the economy went up by a factor of 100 over the next 200 years.

"Over the last 50 years, the growth is accelerating. And it's going to accelerate even further because now you have the digitization of everything taking place," Baron said.

What Baron Is Buying: The longtime Tesla Inc TSLA bull's most recent purchases include an additional $100 million investment in Elon Musk's SpaceX and an investment in healthcare apparel company FIGS Inc FIGS.

"FIGS, you haven't heard very much about, but you will soon. It's the Lululemon of healthcare and we invested about $100 million there," Baron said.

Baron also told CNBC that he has been buying travel names across the board. He mentioned Vail Resorts, Inc. MTN, Hyatt Hotels Corporation H and Red Rock Resorts Inc RRR specifically.

Related Link: 3 Biggest Factors For Online Travel Stocks in 2023, According to Morgan Stanley

And of course, Baron mentioned Tesla, noting that he expects the EV company to become the largest company in the world over the next decade.

"I love Tesla. We've been investing in Tesla for eight years now, since 2014. We made about 20 times our money ... I think we are going to make three to five times our money again over the next 10 years," Baron said.

"I am so excited. In the next 10 years, I think that Tesla is going to be the largest company in the world and in 10 years after that, I think it'll be challenged by SpaceX."

See Also: Looking To Trade Tesla Stock Following 3-1 Split? Here's An Updated Chart

TSLA Price Action: Tesla stock began trading on a split-adjusted basis Thursday. 

The stock was down 0.35% at $296.02 at market close Thursday, according to Benzinga Pro. After-hours has shares down 0.074% at $295.92.

Photo: KarbonatErol via Shutterstock