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.
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Norway's SWF is one of the largest shareholders of Tesla. Oslo wants to use this power at the company's general meeting this week.
Norway investment giant opposes Musk’s $1T Tesla pay
Norway’s giant government investment fund voted against Elon Musk’s $1 trillion pay package, which is expected to pass shareholder muster on Thursday anyway. Norges Bank Investment Management is Tesla’s fifth-largest institutional shareholder, said it was “concerned” both about the size of the award and Tesla’s reliance on the billionaire.It isn’t personal for the Norwegians, who consistently oppose big paydays. But it is personal for Musk. “Whe…
Tesla head Musk is to be held in the company with all the power and a huge stock package. The Norwegian SWF wants to prevent the project as a major shareholder - but has no chance of doing so.[more]]>
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