SpaceX-Tesla Merger: Ron Baron Told Elon Musk 'Whatever You Decide... Is What I'm Going to Support'

The SpaceX logo is displayed on a white screen behind a phone showing the red Tesla logo. (Credit: Photo: Paulm1993 / Shutterstock - ek )

Chris Katje

Sun, September 20, 2026 at 12:30 AM GMT+3 5 min read

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Baron Capital founder and CEO Ron Baron is a long-time investor in both Tesla Inc and SpaceX. When it comes to a potential merger of the two companies, Baron says CEO Elon Musk knows best.

Ron Baron on SpaceX/Tesla Merger

Baron began investing in Tesla in 2014 and in SpaceX in 2017.

Today, Baron Capital has around $25 billion in SpaceX stock and $5 billion in Tesla stock.

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Baron told CNBC the early investments in both companies have made up around $30 billion in profits for Baron Capital clients, out of $71 billion in lifetime profits.

Asked about a potential merger between SpaceX and Tesla, Baron said he privately shared the reasons why he thinks this is a good idea and a bad idea with Musk. Baron would not elaborate on those reasons during the interview.

In the end, whatever decision Musk makes, Baron said he will publicly support.

"Whatever you decide is better is what I'm going to support," Baron recalled telling Musk.

Talk of a potential merger is heating up once again, thanks to comments made by Musk during the All-In Podcast live summit. Musk was interviewed virtually, while SpaceX President Gwynne Shotwell was live at the event.

Baron on SpaceX's Future

Aside from a potential merger, Baron sees SpaceX stock soaring in value in the future.

During the interview, Baron highlighted the company's Starlink unit as being one of the most undervalued assets.

"I think Starlink alone could be a trillion dollars in revenue in 10 years," Baron told CNBC, as reported by Stocktwits.

Baron sees that $1 trillion turning into EBITDA of $700 billion to $800 billion for Starlink. A multiple on that could take the valuation to $14 trillion or $15 trillion, Baron said.

The investor sees Starlink's customer base hitting 300 million over the next 10 years, up from a current total of around 15 million.

Photo: Paulm1993 / Shutterstock – ek

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