Europe's largest pension fund sold Tesla stake over Musk's pay
37 Articles
37 Articles
The Dutch pension fund ABP has taken a drastic step: the major investor sold all of its Tesla shares. This meant that ABP missed out on millions in profits because Tesla rose sharply in value after Trump's re-election.
Faced with the controversies aroused by Elon Musk's remuneration, a Dutch pension fund sold its 571 million euro stake in the car firm.
Dutch pension fund ABP has sold its 2.8 million Tesla shares. The main reason for this is Tesla CEO Elon Musk's multi-billion dollar compensation package. There are also concerns about working conditions.
The decision is not political, the spokesman said. The Dutch fund voted no to Elon Musk's unprecedentedly large pay package this summer.
Europe's largest pension fund, Dutch ABP, has sold its entire holding in Tesla. The sale, made in the third quarter, includes shares in the electric car giant worth 571 million euros.
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