'I'm A Huge Fan Of Elon Musk': Morgan Freeman Revealed His Tesla Stake In 2016—Stock Has Grown 31-Fold Since

Morgan Freeman's respect for Tesla TSLA and Elon Musk still stands out years after he first talked about it. Back in 2016, during an interview with CNBC's Carl Quintanilla, Freeman said, "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." That was a big nod to Musk's vision, which has only drawn more attention over time.

At the time of Freeman's interview, Tesla's stock was trading at roughly $13.50 per share, adjusted for splits. Fast forward to today, and it's hovering around $415 per share. 

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That's a jaw-dropping increase of nearly 3,000% in just over eight years. To put that into perspective, a $10,000 investment in Tesla back then would now be worth more than $300,000.

Even though Freeman's comments were full of praise, his personal investments are a mystery. As his publicist told Business Insider, "Mr. Freeman has a policy of not publicly discussing his personal investments." Regardless, Tesla's growth since 2016 speaks for itself.

The numbers back this up. Tesla's revenue jumped from $7 billion in 2016 to $96.8 billion in 2023, based on Statista data. That's a compound annual growth rate of 43.3%. And while the company posted a $600 million net loss in 2016, it reported nearly $15 billion in net income by 2023, according to Macrotrends. 

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These gains stem from increased production efficiency and demand for its popular models, like the Model Y and Model 3.

Freeman didn't just focus on Tesla in that interview. He also gave Musk credit for SpaceX's achievements, particularly reusable rocket technology. "He's landed a rocket ship so it's reusable — you know what a feat that is?" Freeman said. 

He went on to compare Musk's Mars ambitions with the pioneering spirit of the Old West, explaining, "Now we're taking off and going to Mars, delivering stuff to people who are going to be settling there, just like they settled the Old West."

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Musk reignited buzz around Freeman's comments by sharing a clip of the interview on X (formerly Twitter). He captioned it, "Morgan Freeman is awesome," sparking renewed interest in the actor's take on technology.

Tesla's growth isn't just a company success story; it reflects the broader rise of electric vehicles. Global EV sales grew 59% in 2023, reaching 10.2 million units, as per The Wall Street Journal. Tesla has been a driving force in this surge, helping to position the company with a market valuation of around $1.3 trillion.

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