Ron Baron bought $1 billion of SpaceX shares in IPO, lifting stake to $25 billion

Early SpaceX investor Ron Baron wasn't taking profits during its blockbuster stock-market debut. He was buying more.The billionaire investor said Baron Capital purchased an additional $1 billion worth of SpaceX shares Friday during the company's initial public offering, increasing the firm's position in Elon Musk's rocket and satellite company to roughly $25 billion.The purchase marks a fresh vote of confidence from one of SpaceX's earliest and most enthusiastic institutional backers, even after the company's valuation soared to $2 trillion."I think we're going to make hundreds of billions of dollars," Baron said Monday on CNBC's "Squawk Box." "What they've done isn't possible for anyone else to accomplish. Not possible.

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