Bolstered by excitement over industry-changing partnerships with competitors to grant access to its Supercharging network, Tesla's stock has been on quite a run recently. Elon Musk's famous EV company has gained 111.77% so far for the year, jumping from $182 per share to $260 in the past month alone.
Many investors are treating the carmaker as an AI company, with Cathie Wood of Ark Invest convinced that Tesla is poised to rake in up to $10 trillion by 2030 through an as-yet nonexistent autonomous taxi business.
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Ron Baron, the founder of investment management firm Baron Capital, thinks that, over the next few years, the stock will continue shooting up.
"The stock is now $250, I think it's going to be $500 in 2025 and I think in 2030, it's going to be $1,500," Baron told CNBC. "That's my targets."
Baron first invested in Tesla in 2014 and has experienced a lucrative pay-off thus far.
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"We invested $380 million and we made about $4 billion so far," he said. "We cashed in about a billion and a half. We now have 17.5 million shares and I think we're going to make six or seven times that."
Baron personally owns 5 million shares of the company.
"I'm the last one to buy and I will be the last one to sell. Last in, last out," Baron said. "I bought for the clients, we sold about a quarter of their stock. I haven't sold a single share, personally."
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Tesla's record 13-day green streak came to an end on June 14 after shares of the company had risen more than 40% and its market value had jumped by around $200 billion. The stock opened June 23 at $259.29.
