Norway’s $2 trillion sovereign wealth fund has made a bold decision to reject a trillion-dollar pay deal at Tesla.

The fund announced that it will vote against the proposed pay package for the CEO, which could be worth up to $1 trillion.

This move comes amidst growing opposition to the massive compensation plan, with concerns raised about its unprecedented scale and the accountability of company executives.

Shareholders of the electric vehicle giant are set to vote on the pay deal on November 6, with the sovereign wealth fund joining other investors in pushing back against the lucrative offer.

Despite management guidance and threats from Elon Musk to step down if the deal is not ratified, the fund remains firm in its decision to vote against the pay package.

With the world’s largest sovereign wealth fund taking a stand against the trillion-dollar pay deal, the outcome of the upcoming shareholder meeting remains uncertain.