Norway’s mega wealth fund to reject $1 trillion pay package

Norway’s sovereign wealth fund, one of the largest in the world, has decided to vote against a proposed $1 trillion pay package for Tesla CEO Elon Musk. The fund holds a significant stake in Tesla and expressed concerns about the size and implications of the pay deal.

The fight over Musk’s pay has been heating up, with investors divided on whether the CEO deserves such a massive compensation package. The decision of Norway’s wealth fund adds to the growing opposition to the proposed deal.

Despite the rejection from the wealth fund, Tesla’s Board of Directors is still pushing for shareholders to approve the pay plan, which could see Musk granted almost $1 trillion in stock and expand his voting powers at the company.

Investors are set to vote on the plan in the upcoming shareholder meeting, and the outcome could have significant implications for Tesla and its CEO. It remains to be seen how this rejection will impact Musk’s future compensation and the company’s performance going forward.