Billionaire Ron Baron Issues Order To Buy $1,000,000,000 in SpaceX Shares, Predicts Huge Demand for SPCX – Crypto News – Crypto News
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Billionaire Ron Baron Issues Order To Buy $1,000,000,000 in SpaceX Shares, Predicts Huge Demand for SPCX Billionaire Ron Baron Issues Order To Buy $1,000,000,000 in SpaceX Shares, Predicts Huge Demand for SPCX

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Billionaire Ron Baron Issues Order To Buy $1,000,000,000 in SpaceX Shares, Predicts Huge Demand for SPCX – Crypto News

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Billionaire investor and Baron Capital CEO Ron Baron says he has given his firm the green light to accumulate 10 figures worth of SpaceX (SPCX) shares.

In a call with other Baron Capital executives, Baron says that since SpaceX is looking to raise $70 billion from the public markets following its debut on June 12th, he wants his investment firm to buy $1 billion worth of SPCX shares to avoid dilution.

“So we own about 1.25% of SpaceX. And if you’re going to raise $70 billion, and I don’t want to be diluted, then we need to have a billion dollars.”

According to Baron, he expects massive demand for SpaceX from multiple sources, starting with big money managers who do not own any or own very little of Elon Musk’s tech firm.

“And there are so many people who are huge money managers, people with $2 trillion, $3 trillion, $1 trillion. They don’t own a share. And the people who have $7 or $8 trillion, they own way less than they can. So you have huge demand coming from people who don’t own enough and have to own more.”

With SpaceX’s expected inclusion in the Nasdaq 100 following the adoption of the “fast-track” rule, the billionaire sees additional demand from passive investors.

“And then you also have these indexes where passive investors have to invest in those indexes, whether they like it or not. If they’re going to duplicate an index, and you have a new company coming into the index, they’ve got to invest in it. So you have demand coming from investors who don’t own any and are large-cap growth, they have to own it.

And then, in addition to that, you have people who are going to be trying to duplicate an index, and they have to own it too. And then you have people like us who say, ‘Boy, I have never in my life seen a business like this,’ and I haven’t. Then, they have to own it too.”

SpaceX is targeting an initial public offering price of $135 at a valuation of $1.77 trillion.

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