How much money would you have if you invested $1000 in 2017
Tesla CEO Elon Musk sold 7.92 million shares in the electric car maker worth about $6.88 billion between Aug. 5 and Aug. 9, according to a series of recent SEC filings.
As of August 9, the Tesla shares were valued at around USD 850 each at the close of trading. That price has fallen a little more than 9% since the close on Aug. 4, when shares were $938 each, according to CNBC tracking.
As for how shareholders would fare in the longer term, if you had invested $1[ads1],000 in Tesla a year ago, on August 11, 2021, your investment would have appreciated by about 23%, according to CNBC calculations, to a value of about 1,230 dollars, as of 10 August 2022.
If you had invested $1,000 five years ago, on August 11, 2017, your investment would have been worth about $12,160.
And if you had invested $1,000 on August 11, 2012 and given the investment a decade to grow, you would have about $145,341 as of August 10, 2022.
Musk’s latest sale comes despite his announcement earlier this year that there were “no further TSLA sales planned” after he sold about $8.4 billion of the company’s stock in April.
So what’s behind this latest move? The billionaire says it’s because of his ongoing legal battle with Twitter.
“In the (hopefully unlikely) event that Twitter forces this deal to end *and* some equity partners don’t come through, it’s important to avoid a distress sale of Tesla stock,” Musk tweetedafter answering yes to a question about whether he had finished selling shares.
Back in April, Musk announced his intention to buy the social media giant for $44 billion or about $54.20 per share. As of August 10, the Twitter shares were valued at around $44 each at the close of trading. A share of Twitter stock was valued at around $45 on April 14 when Musk made his announcement.
In July, however, the SpaceX chief told Twitter that he wanted to cancel the deal. In a letter to the company, Musk’s lawyers argued that Twitter failed to provide “information that would allow him to “conduct an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform.”
Twitter called Musk’s attempt to bail out of the deal a “model of hypocrisy” and said his claims “lack any merit,” according to a legal complaint filed by the company.
Although Musk is now pushing for a public debate with Twitter CEO Parag Agrawal, the head of the microblogging site said he plans to let the courts decide the fate of that deal, with a trial set to begin in October.
When it comes to the stock market, be sure to do your research before investing and remember that a stock’s past performance cannot be used to predict future earnings. An alternative to investing in individual stocks is to invest in the S&P 500, a stock market index that tracks the stock performance of 500 large US companies.
Although the S&P 500 shrank nearly 6% compared to the same time period last year, the index has grown 71.94% over the past five years and 198.58% over the past decade, according to CNBC calculations.
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