Morgan Freeman's Tesla Stock Profits Surged By 3,000%: 'I'm A Huge Fan Of Elon Musk'

In a 16th September 2016 CNBC interview, Hollywood actor Morgan Freeman disclosed that he owns Tesla (NASDAQ:TSLA) stock. "I'm a huge fan of Elon Musk. He's got the most incredibly forward-thinking ideas about where we can go technologically," the Shawshank Redemption star had said.

The Tesla stock closed at £10.85 ($13.52) when the interview aired in 2016. The stock price was £326.27 ($406.58) on 24th January 2025. If Freeman had bought £10,000 worth of Tesla stock on the day of the interview and didn't sell, it would be worth over £300,000 today, a 3,000% investment profit.

"He's [Musk], you know, what he's done, nobody else has ever done," Freeman added. "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," the Academy Award winner concluded.

However, the 87-year-old actor didn't disclose how much Tesla stock he owned or at what price. According to Celebrity Net Worth, Freeman is worth £200.51 million ($250 million).

Tesla's Long-term Vision Is Paying Off

Since the Morgan Freeman interview in the last decade, Tesla's market cap has surged from £24.07 billion to £1.04 trillion, making it one of the most valuable companies globally. The EV maker's operating revenues also soared to £77.8 billion in 2023 from £5.61 billion in 2016, turning millions in operating losses to over £7.21 billion in operating profits in that period.

The EV company's cash flow was also boosted by its rapidly growing market share in China. Tesla recently launched the facelifted five-seat Model Y in China on 10th January. Reports from the mainland suggest that Tesla received orders for over 70,000 units of the new model within the first five days after the launch.

The facelifted Model Y's acceptance in China could be attributed to the changes in the exterior designs as well as battery and powertrain upgrades. The EV car is being produced at Tesla's Shanghai factory.

Soon after the China launch, Tesla announced rolling out the redesigned version of the Model Y crossover in the US, Canada, and Europe. The revamped version comes ahead of the widely anticipated launch of a cheaper model in H1 2025, as the company plans to increase sales and boost its customer base.

Latest Analyst Call On Tesla (NASDAQ:TSLA)

On 22nd January, Wedbust analyst Daniel Ives increased Tesla's share price target to £441 ($550) from £413 ($515) while maintaining an "Outperform" rating. The brokerage is confident in Tesla's 2025 demand delivery story complemented by potential US policies fast-tracking autonomous vehicle R&D under the Trump Administration.

Wedbush analysts believe the Trump Administration's take on the AI and autonomous story could be a "total game changer" for Tesla in the next four years. The brokerage projected that AI and autonomous opportunities are worth "at least $1 trillion alone" for Tesla.

The brokerage concluded that Tesla's market capitalisation could reach £1.6 trillion ($2 trillion) by the end of this year.

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