CNBC’s Becky Quick calls in to discuss Ron Baron of Baron Capital’s response to news that Elon Musk is considering taking Tesla private.
David Einhorn's Greenlight Capital returned -2.9% in the second quarter of 2021 compared to 8.5% for the S&P 500. According to a copy of the fund's letter, which ValueWalk has reviewed, longs contributed 5.2% in the quarter while short positions detracted 4.6%. Q2 2021 hedge fund letters, conferences and more Macro positions detracted 3.3% from Read More
Ron Baron To CNBC: Elon Musk Is Considering Taking Tesla Private
If you start to wonder what's going on with Tesla what the Tesla faithful really think about this. Or both of them are saying hey even if they continue to believe in this one of those is Rod Barron from Baron Capital Baron Capital has one point six million shares of Tesla. Their average buy in price was somewhere between 217 two hundred twenty dollars. So they have made a lot of money. But Ron Baron when I asked him if he would sell at 420 dollars said no way he said in fact if he goes private I want our firm to be part of any deal. He points out that there is a company who thinks has a bright future. Things can make a lot of money for him. Baron Capital has five different stocks that they've made over a billion dollars in profit. That would be Charles Schwab when they'll Rizzo resorts costar and I decs and then he's made almost a billion dollars. Gardner When I asked him about how that kind of matches up to what he sees with Tesla he says I think we'll make more money and Tesla than we've made in any other vestment talking about 10 to 15 years is long term shareholder but he does have a lot of faith in this.
Again be looking to find out what you think it did. Did Elon Musk approach wrong Baron about some of the financing do we know about that.
No he did not and he does not know what's going on with the situation and particularly if he's actually taking it private or not. But I just asked him if he felt that price he said No way. So they don't have news in terms of whether or not he's financing any of this he's not. But he did say that he thinks his company is going to make a lot of money over the long time and he would not go at that price he would want to be one of the partners where Musk tweeted out his idea of he hopes the shareholders who were there would want to stay at.