FIGS Inc (FIGS)

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Billionaire Ron Baron Is 'Incredibly Bullish' On Tesla, SpaceX And This Apparel Company He Calls 'The Lululemon Of Healthcare'
4:28 pm ET August 25, 2022 (Benzinga) Print
There aren't many investors with a 20-year time horizon at the age of 79, but that's exactly how far billionaire investor Ron Baron is looking ahead, and it's safe to say he's optimistic about what's to come.

"I am incredibly bullish for my children, for my grandchildren and for me for the next 20 years," Baron said Thursday on CNBC's "Squawk Box."

Baron's Thesis: Baron told CNBC that from the year 0 to the year 1500, the size of the economy and the amount of people doubled. Following the Industrial Revolution around 1800, the economy went up by a factor of 100 over the next 200 years.

"Over the last 50 years, the growth is accelerating. And it's going to accelerate even further because now you have the digitization of everything taking place," Baron said.

What Baron Is Buying: The longtime Tesla Inc (NASDAQ: TSLA) bull's most recent purchases include an additional $100 million investment in Elon Musk's SpaceX and an investment in healthcare apparel company FIGS Inc (NYSE: FIGS).

"FIGS, you haven't heard very much about, but you will soon. It's the Lululemon of healthcare and we invested about $100 million there," Baron said.