-
Morgan Freeman stands to have made around 30 times his money on Tesla stock.
-
Elon Musk shared a clip on X of the actor saying in 2016 that he owned Tesla shares.
-
If Freeman owned $10,000 of Tesla stock and didn't sell, his stake would be worth over $300,000 now.
Morgan Freeman has potentially scored a roughly 3,000% return on Tesla stock, meaning a $10,000 investment then would be worth north of $300,000 today.
The movie star revealed he was a Tesla shareholder during a CNBC interview in 2016, a clip of which Elon Musk shared on X this week. The electric-vehicle company's CEO shared the same clip in April last year, writing "Morgan Freeman is awesome."
"I own Tesla," Freeman told his interviewer. "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.
"He's, you know, what he's done, nobody else has ever done," Freeman continued. "He's landed a rocket ship so it's reusable — you know what a feat that is?
"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," Freeman added, referring to Musk's vision for his space-exploration company, SpaceX.
The Hollywood legend, known for his roles in "The Shawshank Redemption" and "Million Dollar Baby," didn't disclose how much stock he owned or how much he paid for it.
"Mr. Freeman has a policy of not publicly discussing his personal investments," the actor's publicist replied to an email from Business Insider seeking more details about the holding.
Tesla stock was trading around $13.50 on a split-adjusted basis the day the interview aired. It was trading around $415 on Friday, representing a nearly 31-fold increase in a little over eight years.
Musk's automaker has massively grown over that period. Its market capitalization has ballooned from around $30 billion to $1.3 trillion, making it one of the most valuable companies in the world. Its revenues have surged from $7 billion in 2016 to $97 billion in 2023, and it swung from an operating loss of over $600 million to a nearly $9 billion operating profit.
Read the original article on Business Insider