In 2011, a little-known asset manager, Jennison Associates, took a bold bet on Tesla that would prove to be a game-changer. Guided by a 27-year-old analyst named Owuraka Koney, the firm invested heavily in the electric vehicle (EV) pioneer. Today, that investment has grown nearly 15,000%, propelling Tesla to incredible heights.
Koney’s confidence in Tesla’s ability to revolutionize the auto industry led Jennison Associates to purchase over 20 million shares, now valued at a staggering $5.9 billion, making them one of Tesla’s biggest stakeholders.
Over the years, Tesla’s stock has soared, and it has become a top performer on the S&P 500. The company’s success can be attributed to shining quarterly earnings, EV price cuts, and growing excitement surrounding the tech industry during an AI boom.
Jennison Associates has traditionally kept a low profile regarding its investments, but the success of its Tesla stake has brought them into the limelight. And it’s not just Tesla; the asset manager also saw tremendous gains from its nearly 1% stake in Nvidia, amounting to a stunning $5 billion gain this year.
As Tesla continues to shape the future of the auto industry and beyond, their bet on this trailblazing company has proven to be a decision that has reaped incredible rewards.