Billionaire investor and CEO of Baron Capital Ron Baron says he has given his company the green light to acquire 10 shares of SpaceX (SPCX).
On a call with other Baron Capital executives, Baron he says that since SpaceX is looking to raise $70 billion from the public markets following its launch on June 12th, he wants his investment company to buy $1 billion worth of SPCX shares to avoid bankruptcy.
“So we have about 1.25% of SpaceX. And if you want to get $70 billion, and I don’t want to be reduced, we need to have a billion dollars.”
According to Baron, he is expecting a huge demand for SpaceX from several sources, starting with large investment managers who do not own or own the technology of Elon Musk.
“And there are many people who are big money managers, people who have 2 trillion, 3 trillion, 1 trillion dollars. They don’t have their share.
With SpaceX expected to be included in the Nasdaq 100 following the implementation of the “fast track” law, the billionaire sees other requirements from investors.
“And you also have these indexes that investors have to invest in their indexes, whether they like it or not. If they re-create an index, and you have a new company coming into the index, they have to invest in it.
And then, in addition to that, you have people who have been trying to replicate the index, and they should be involved as well. And then you have people like us who say, ‘Boy, I’ve never seen a business like this in my life,’ and I’ve never seen it. Then, they should have it too.”
SpaceX is looking at an initial price of $135 for a price of $1.77 trillion.
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