Billionaire Ron Baron invested $100 million in SpaceX recently and thinks his Tesla holdings will return 3-5 times in the next 10 years

Ron Baron's fund also invested about $100 million in Figs, which he called the "Lululemon of healthcare," in the last few months.

• Ron Baron's fund recently invested another $100 million in SpaceX in the last few months. 
• The Tesla bull added that the EV maker would grow to be the biggest company in the world in 10 years, followed by SpaceX. 
• He also invested about $100 million in Figs, which he called the "Lululemon of healthcare," in recent months.

Billionaire portfolio manager Ron Baron recently added $100 million to his SpaceX investment and bought stocks in the healthcare and travel sectors.

The founder and chief executive of investment management firm Baron Capital told CNBC on Thursday that also invested about $100 million in Figs, which he called the "Lululemon of healthcare," in recent months.

The investments in SpaceX and Figs, a maker of hospital scrubs, mark his biggest moves lately, he said. Baron has participated in SpaceX's previous fundraising rounds. Meanwhile, SpaceX recently announced a joint venture with T-Mobile on Twitter intended to "increase connectivity."

Baron also said Thursday he has bought shares of Hyatt, Vail Resorts and Red Rock Resorts, expressing bullishness on the travel sector.

A noted Tesla bull, he estimated that he has made about $6 billion-$7 billion on shares of the EV maker from his initial investment of $380 million in 2014. He added that he expects his fund to make another three to five times its money on Tesla in the next 10 years. 

"In the next 10 years, I think that Tesla is going to be the largest company in the world, and in the 10 years after that, I think it will be challenged by SpaceX," he said.