US EditionNorway wealth fund to vote no on Musk $1 trillion Tesla pay package
- On November 6, 2025, Tesla shareholders will vote on Elon Musk, Tesla CEO's pay package, with Norges Bank Investment Management opposing the proposed deal at the Tesla annual general meeting.
- Tesla says the award depends on hitting milestones, requiring a $8.5 trillion market value within the next decade, or Musk will earn nothing.
- A Reuters analysis calculated the post-deduction value of Musk's award at up to $878 billion, while Norges Bank Investment Management holds a 1.12% stake in Tesla worth $17 billion.
- Tesla's board is pressing for approval as chair Robyn Denholm warned Musk could leave if rejected, while Baron Capital said Monday it will back the plan amid criticism.
- NBIM will oppose the Tesla general stock compensation plan and vote against two directors, Kathleen Wilson-Thompson and Ira Ehrenpreis, while backing Joe Gebbia on Tuesday.
179 Articles
179 Articles
The Mercury news
East Bay TimesElon Musk the trillionaire? Debate over his Tesla pay package rages
Elon Musk turned off many potential buyers of his Tesla cars and sent sales plunging with his foray into politics. But the stock has soared anyway and now he wants the company to pay him more — a lot more.
The Norwegian fund Norges Bank Investment Management (NBIM), one of the largest funds in the world and the sixth shareholder of Tesla with the 1.12% stake in the company, some $17 billion, has announced that it will vote against the compensation package proposed by Tesla for its CEO. It argues that the size of the bonus is excessive and that it involves risks such as dilution of shares and excessive dependence on Musk.
The Norwegian sovereign fund, with assets worth $2,000 billion, announced Tuesday that it will vote against the $1,000-billion proposed salary package for Elon Musk in Tesla, challenging the company's management recommendations and the billionaire's warnings that it could disband if the plan is rejected, reports The Guardian.
Key Tesla investor casts vote to reject Elon Musk's $1 trillion pay package: 'We are concerned'
Just days before Tesla shareholders were set to vote on an unprecedented compensation package for CEO Elon Musk, one of the electric vehicle maker's largest and most powerful institutional shareholders rejected the proposal, CNBC reported. After large oil reserves were discovered in the North Sea in 1969, the Norwegian government took a cautious approach, aware that the resources could create domestic economic volatility, and established an inve…
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