‘Teslanaires’ Detail How Tesla Vaulted Them into Millionaires
A new wave of millionaires have risen out of Tesla’s (TSLA) stocks this year, and many, like Brandon Smith, are cashing out after Tesla’s biggest year yet.
Smith, according to Bloomberg, put $10,000 of his own savings into Tesla’s stock in late 2017, marking his first time investing in a company. Then, he would take money from each paycheck to add to his investment over time.
The video producer claims he wasn’t wealthy at the time, and didn’t really know what he was doing getting into it.
In a phone interview, Smith, 32, said, “I don’t make six figures, and I don’t know anything about puts and options.” He continued, “I’ve just bought and held the entire time. I’ve never sold a single share.”
This is exactly why I will never cash out on Tesla stock, 30 years from now it’s gonna be worth millions. https://t.co/zBV7HyRsBo
— God (@Henny_Hokage) December 18, 2020
In spite of his inexperience, Tesla’s shares having grown 684% this year made Smith’s early investments go a long way. And like others in 2020 who benefitted from Tesla’s growth, Smith could now sell his shares for over a million dollars – that is, if he wanted to.
As Tesla prepares to enter the S&P 500 Index on Monday, small-time investors like Smith are eager to see the company continue to grow.