The founder of Baron Capital first bought into SpaceX back in 2017, when the rocket company carried a valuation south of $22 billion. Fast forward to June 2026, and that position has ballooned to roughly $25 billion following SpaceX’s blockbuster IPO. Now Baron is projecting the company could reach a market capitalization of $20 trillion to $40 trillion over the next decade. For retail investors who couldn’t access SpaceX during its private years, the IPO opens a door that was previously locked. Baron added an additional $1 billion at IPO prices after already holding a roughly $25 billion position, signaling he believes the market has not yet priced in SpaceX’s long-term potential.