Watch CNBC's full interview with billionaire investor Ron Baron

Ron Baron, Baron Capital CEO and one of Tesla’s largest shareholders, joins CNBC's 'Squawk Box' to discuss investing in the electric-vehicle maker and SpaceX. Baron also breaks down his investments in Shopify and Charles Schwab and explains how investors can safeguard their portfolios against rising inflation. "Investing in businesses, buying stocks in those businesses is the way you protect yourself best against inflation," Baron tells CNBC's Becky Quick.