Investor Ron Baron says tech selloff an opportunity, won’t sell own Tesla stake

Billionaire investor Ron Baron isn’t shying away from his latest tech selloff, and he’s certainly not touching his own stock either. Tesla’s He said he is sharing.

The longtime growth investor said he sees the pullback as a chance to spot bargains, even though volatility has shaken the tech world’s biggest names recently.

“Not really,” Baron said Friday on CNBC’s “Squawk Box” when asked what he was doing amid the contraction. “I just look and try to figure out where the opportunities are and try to take advantage of them.”

This belief is especially intense about Tesla, which is one of his unique bets. He recalled that a few years ago, Baron Funds sold a third of its Tesla holding because of criticism from clients and the media that there was significant concentration in a single stock. The Baron emphasized that his personal position remained completely intact.

“We sold 30% to customers. I personally haven’t sold a single share,” he said.

Roughly 40% of his personal net worth is invested in the electric vehicle maker, 25% in SpaceX, and approximately 35% in Baron investment funds.

Tesla shares are down 18% from their 52-week high and were on track to open 5% lower on Friday as investors rethink the AI-related stocks that have driven this week’s bull market.

Baron said he has made about $8 billion from Tesla over the years and believes he could make five times that in the next decade.

Baron recounted a promise he made to the investment fund’s board of directors decades ago when he sought approval to invest in public stocks; it was a commitment that effectively tied him to Tesla and SpaceX for life.

“I told the management, ‘If you let me invest a certain amount, I will promise not to sell any of my shares. I will be the last person to have my shares sold out,'” he said. “I will not sell a single share of my stock until my clients sell 100% of their stock. … And I don’t expect to sell Tesla or SpaceX in my lifetime.”