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Billionaire Ron Baron: I could make 30-50 times my money on Tesla over next 15 years

Billionaire buy-and-hold investor Ron Baron told CNBC on Friday he believes he can make 30 to 50 times his money on his investment in Tesla in the next 15 years.

He called Tesla "maybe the most interesting" company he's ever invested in over his 46 year career.

"I think in this investment from here in the next 15 years, we can make 30 to 50 times our money," said Baron on the sidelines of the annual Baron Investment Conference in New York City.

Baron owns about 1.5 million Tesla shares, valued at around $300 million. "That represents 1.5 percent of our assets," he said.

"The stock was $33 when we started to invest," he said. Tesla closed on Thursday at $187.42 per share. He said his average cost of buying the stock over more than three years is "over $200 now." Tesla's all-time high was around $280 per share in July 2015.

"[But] it's risky," the...