Tesla bull Ron Baron intends to maintain his stake in the company for at least 8 more years.

• Baron Capital’s Tesla investment has grown roughly twentyfold since 2016.
• Baron intends to maintain his position for at least eight additional years and believes the stock may increase three to four times from its current value.
• Elon Musk's recent investment in Twitter won't distract the busy CEO.

For years, one of the largest shareholders of has been investor Ron Baron, and he has no intention of altering his position.

On Thursday, CNBC reported that Baron stated he believes Tesla's stock has significant potential for growth and he intends to maintain his ownership of the company's shares for at least eight additional years.

Baron stated on "Squawk Box" that he believes Tesla will make three, four, or five times their money from here, and that this is just the beginning of what they're doing.

Baron Capital, the namesake firm of Baron, invested approximately $380 million in Tesla between 2014 and 2016 at an average price of $50 per share. Currently, the firm has about 12.8% of its total assets under management invested in Tesla, which amounts to approximately $6.2 billion, following the EV maker's recent surge in value.

Baron stated that he expects to hold Tesla stock in eight to 10 years, despite selling about a billion dollars' worth of Tesla stock to reduce investors' risk and may sell more in the future.

Baron revealed that he was receiving criticism from many for having a significant portion of his firm's assets invested in one stock, and people questioned his sanity. To address this, he decided to reduce the firm's Tesla stake.

CNBC reported that Tesla's CEO, Baron, advised investors to disregard short-term obstacles, such as the company's recent failure to meet delivery expectations, which saw Tesla deliver approximately 310,000 vehicles in the first quarter, 7,000 vehicles short of the predicted consensus estimate.

Baron stated that people suggested they should have produced 317,000 cars in a quarter. In four years, they will manufacture a million cars per quarter, and in ten years, it will be approximately five million cars produced per quarter.

Tesla's automotive business would be roughly the size of the combined output of the world's two largest automakers, with 20 million vehicles produced annually.

Elon Musk's recent decision to invest in Twitter and join its board has not caused any concern for Baron, who remains a devoted fan of the Tesla CEO.

Baron stated that he believes the investment in Twitter is aiding his marketing efforts. He assured that he remains focused and does not take his eye off the ball.

Shares of Tesla were effectively flat in premarket trading Thursday.