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Norway’s Sovereign Wealth Fund to Vote Against Elon Musk's $56 Billion Pay Package



Norway's $1.7 trillion sovereign wealth fund announced it will vote against ratifying Elon Musk's $56 billion pay package at Tesla's upcoming shareholder vote, following its invalidation by a Delaware judge. As Tesla's eighth-largest shareholder, the fund expressed concerns over the package's size, performance triggers, dilution, and key person risk. 



Despite acknowledging Musk's value since 2018, the fund has been consistently critical of excessive CEO compensation. Additionally, the fund supports a proposal for Tesla to adopt a freedom of association and collective bargaining policy, echoing ongoing labor disputes. Musk reacted on social media, criticizing the fund’s stance.






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