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In this article * BOIL-GB * BCAP * BARIX Follow your favorite stocksCREATE FREE ACCOUNT Billionaire investor Ron Baron, who says his stake in Tesla has made his firm 10 times its original
investment, told CNBC on Wednesday that he expects similar growth from Elon Musk's space company. "SpaceX I think has a chance to be just as large as Tesla," Baron said on
CNBC's "Squawk Box." Baron's investment firm holds significant stakes in both companies, with over 1.6 million shares of Tesla and nearly 1.3 million shares of SpaceX as
of the end of the third quarter of this year. Tesla's stock is up more than 433% this year, meaning Baron's stake is worth about $3.5 billion as of Tuesday's close – with the
company's market valuation at about $417 billion. Earlier this year Baron said he believes Tesla has the potential to hit "at least" $1 trillion in revenue by 2030. While
Baron Capital first purchased shares of SpaceX in 2017, the firm has continued to expand its position in the rocket builder as recently as the third quarter. The Baron Asset fund disclosed
that it purchased $26 million worth of SpaceX stock during the company's recent $2.1 billion fundraise, which Baron said raised SpaceX's valuation to about $44 billion. SpaceX has
had a year full of milestones, with progress made by its Crew Dragon astronaut capsule, its Starlink satellite internet service, and its next-generation Starship rocket. "What I want to
be known as, ultimately, is not just the Tesla guy, but also the SpaceX guy," Baron told CNBC. "In the next couple years I'm going to be talking to you a lot more about
SpaceX than I'm going to be able to do right now." _Subscribe to CNBC PRO__ for exclusive insights and analysis, and live business day programming from around the world._