Morgan Freeman, renowned for his iconic roles in films like ‘The Shawshank Redemption’ and ‘Million Dollar Baby,’ may have achieved a staggering financial success off-screen: a potential 3,000% return on his investment in Tesla (TSLA) stock. This means that an investment of $10,000 back in 2016 could now be valued at over $300,000. This revelation came to light during a CNBC interview in 2016, where Freeman openly discussed his ownership of Tesla shares, expressing his admiration for Elon Musk and his visionary approach to technology.
Freeman’s endorsement of Musk focuses on the latter’s pioneering work, especially highlighting the achievement of landing and reusing rockets through SpaceX, which Freeman describes as a monumental feat. His comments reflect not just an investment in Tesla but a belief in Musk’s broader technological ambitions, including the potential colonization of Mars, drawing parallels to historic human expansions like the settling of the American West.
The Tesla stock, which was trading at approximately $13.50 on a split-adjusted basis when Freeman spoke about his investment, has since spiked to around $405. This price surge signifies an astronomical growth rate increase of 2,996% over eight years, underscoring the remarkable growth trajectory of Tesla under Musk’s leadership. From a financial perspective, Tesla’s evolution is equally impressive. The company’s market capitalization has expanded dramatically from $30 billion to a staggering $1.31 trillion, as of last check, positioning Tesla among the globe’s most valuable corporations. Revenue has also seen a meteoric rise, jumping from $7 billion in 2016 to $96.7 billion in 2023, a 19% increase from 2022, with the company shifting from significant operating losses to a robust operating profit of nearly $9 billion.
Freeman’s investment, while not quantified in public statements due to his policy of privacy regarding personal investments, serves as a testament to the potential financial benefits of backing visionary companies like Tesla. His publicist confirmed Freeman’s discretion on such matters, reflecting a broader trend where celebrities leverage their platforms to endorse and invest in sustainable and innovative technologies.
This narrative around Freeman’s investment in Tesla does more than just highlight financial gains; it underscores a cultural shift towards recognizing and supporting green technology and innovation. Tesla, under Musk’s direction, has not only transformed the automotive sector with its electric vehicles but has also become a symbol of technological optimism, aimed at addressing some of the planet’s most pressing challenges like climate change and space exploration.
The story of Morgan Freeman’s Tesla investment, thus, intertwines celebrity influence with the narrative of technological and environmental progress, illustrating how individual investments can echo broader societal aspirations for a sustainable and innovative future.
h/t BI
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