Norwegian Wealth Fund to Oppose Elon Musk’s $1 Trillion Pay Package at Tesla

It has been reported that Norway’s sovereign wealth fund, one of the largest investors in Tesla, will vote against ratifying a proposed pay deal for CEO Elon Musk potentially worth $1 trillion. This decision by the $2 trillion sovereign wealth fund marks a significant show of opposition to Musk’s unprecedented compensation package.

The proposed pay package, which could be worth up to $1 trillion over the next decade, has faced backlash from shareholders and advisory groups alike. The wealth fund’s decision to vote against the deal adds to the mounting challenges Tesla is facing in securing approval for the record-breaking compensation plan.

With the annual shareholder meeting approaching, the rejection of Musk’s pay package by the Norwegian wealth fund highlights the growing discontent among major shareholders over the CEO’s lucrative compensation. The fund’s stance also sets the stage for a potential showdown at the upcoming meeting, as Musk strives to secure approval for what could become the largest CEO compensation package in history.

Stay tuned for updates on the outcome of the shareholder meeting and the implications of the Norwegian wealth fund’s opposition to Elon Musk’s $1 trillion pay package at Tesla.