Morgan Freeman’s Tesla Investment: A Look Back at a Stellar Rise

Background on Freeman’s Enthusiasm: On Thursday, Tesla Inc TSLA CEO Elon Musk highlighted a 2016 interview with actor Morgan Freeman, in which Freeman revealed his investment in the electric vehicle company.

Freeman’s Support for Tesla: “I own Tesla. I’m a huge fan of Elon Musk’s and I think he’s got the most incredibly forward-thinking ideas about where we can go technologically,” Freeman stated during his CNBC interview when asked about his stock ownership.

Freeman praised Musk, saying, “He’s, you know, what he’s done, nobody else has ever done. He’s landed a rocket ship so it’s reusable — you know what a feat that is?” He was referring to the accomplishments of Musk’s rocket company, SpaceX.

The actor expanded on Musk’s ambitions, stating, “Now we’re taking off and we’re going to Mars, delivering stuff to people who are going to be settling there, just like they settled the Old West, and bringing those ships back and landing them and reloading them.” His comments underscore Musk’s vision of space exploration and colonization.

Musk had recently shared this same interview in April, calling Freeman “awesome.”

Financial Growth of Tesla: The details regarding Freeman’s Tesla stock ownership remain unclear, including how many shares he has or the price he paid. Nevertheless, the company’s stock and performance have soared since the interview.

Tesla’s stock was valued at $13.52 on September 6, 2016, adjusted for corporate actions. Remarkably, the stock closed at $406.58 last Friday, marking a 30-fold increase.

Over the past five years, Tesla’s stock price has skyrocketed more than 800%.

In 2016, Tesla reported annual revenue of $7 billion. Fast forward to 2023, and that figure has surged to $96.77 billion. The year 2020 was significant for Tesla, as it achieved its first full-year profit. In 2023, it reported non-GAAP earnings per share of $3.12.

Looking ahead, Tesla is expected to release its full-year 2024 financial results on Wednesday at 5:30 p.m. Eastern Time.

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