Early Tesla Backer Debuts Funds Tied to Musk’s xAI, SpaceX
- Ron Baron’s funds, partnership offer entry to private startups
- ‘I want my business to last for 100 years,’ Baron says
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Ron Baron, an early backer of Tesla Inc., is deepening his embrace of Chief Executive Officer Elon Musk by setting up partnerships that would permit clients to invest in two of the billionaire’s private ventures.
Baron Capital Management formed a pair of funds in recent months to invest solely in Musk’s xAI, the artificial intelligence startup that raised some $6 billion through a private stock sale earlier this year. Baron’s firm also started a private partnership to buy more shares of Space Exploration Technologies, Musk’s rocket and satellite company.