Billionaire Ron Baron estimates that SpaceX will be worth $500 billion by 2030

Elon Musk’s SpaceX will be worth around $500 billion by 2030, according to billionaire investor Ron Baron, who spoke with CNBC on Friday.

According to CNBC, Baron owns more than $1 billion in rocket firm stock and believes the company will be valued at $250 billion to $300 billion in the next three years.

SpaceX is one of the most valuable private firms in the world, with a current valuation of around $150 billion.

Earlier this month, Musk announced that Starlink, SpaceX’s satellite internet division, had reached cash flow breakeven. Starlink is the world’s largest satellite operator, with a network of around 5,000 low-Earth orbit satellites.

According to Bloomberg News, SpaceX is on target to earn $9 billion this year from its rocket launch and Starlink operations, with sales expected to reach $15 billion by 2024, citing people familiar with the subject.