Ron Baron, CEO of Baron Capital Group, believes that Tesla is going to grow and grow and grow.Baron said that the electric carmaker could grow to be "one of the largest companies" in the world during an interview with CNBC Tuesday.
"I think there is a very good chance I could own this stock for 10, 15, 20 years," said Baron, who predicted he would make $6 or $7 billion over that timeframe.
Musk actually took less money on the last offering than he was offered," said Baron.
This came two weeks after the company reported earnings and announced it would move up it's target of 500,000 cars completed annually by two years, to 2018 from 2020.
The stock offerings price, however, was priced below the company's previous offering.Baron believes that the company can not only complete that order goal, but also produce more electric batteries in that time.Baron, whose funds have roughly $20 billion in assets and is known to invest over the long term, has built up an investment of around $300 million over the past year and a half.
"Every three or four months I go and visit the factory and I make sure it's developing the way that I expect it to develop," Baron said.