“I do not think it makes sense,” he told CNBC’s Squawk Box on Thursday. “It’s a small investment. $ 3 billion for a man worth $ 300 billion. He has Tesla worth a trillion (and) on the road to be worth $ 3 or $ 4 trillion.” Baron, who has been a Tesla investor since 2014, added: “There is no way he can have something important for him.” Baron said his company decided not to invest in Jack Dorsey’s social media company when it was discovered that Musk was backing the company and taking a board position. Indeed, most investors tend to look at the company as well as the people who support it before buying shares. While Twitter shares rose 27% after the revelation of Musk’s investment on Monday, the company’s share price has not performed very well in recent years compared to other US tech giants such as Apple and Microsoft. Musk’s purchase comes less than two weeks after he criticized the company, asking people on Twitter if it adheres to the principles of freedom of speech. “As Twitter functions as the city’s de facto public square, non-compliance with the principles of freedom of speech fundamentally undermines democracy,” Musk wrote on Twitter. “What needs to be done?” Late last month, Musk also said he was considering setting up a new social networking platform. Musk, now Twitter’s largest shareholder, is not the only billionaire to buy a large stake in a major media company. Asked if Musk’s companies could now face similar scrutiny, Baron said: “When you focus on something that makes no sense and will never have any impact on anything, it just takes away from seeing the big picture.” He added: “These things, we do not care. It is not relevant to me. People can get something. A short seller or a macro or a hedge fund is going to get something that you can exchange. It is not relevant. I do not care”.
