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Tesla is the most profitable company on the planet, says Baron Capital

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That is the claim of Ron Baron, who invested 6.7 billion in Tesla.

Baron Capital one of the largest and well respected of all the financial firms, held a live event for investors this year. This was the first live event for the firm since 2019, and it was held at the Metropolitan Opera House in

The Baron Partners Fund has dropped $6 billion into the EV company, meanwhile the Baron Focused Growth Fund has built up about $700 million shares of Tesla stock in its portfolio., overall have had a rough year. Tesla lost 50% of its share value, while both of the Baron's funds mentioned here are down 31 percent and 23 percent respectively. The stock market had its downside most of the year, with some gains, but mostly not more than a slight overall rise for the year.

Baron pointed out that even with the share price decreases the company still has longer-term plans on growth. Baron did go on the record to acknowledge this has been a rough year in the stock market, and his funds and Tesla. He felt this would best be called "relative," also commenting that "because our turnover is low and we have a great long-term record, investors are willing to cut us some slack and to remain patient."

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