Norway’s sovereign wealth fund, the world’s largest, has rejected Elon Musk’s proposed $1 trillion pay package for Tesla, marking a significant setback in the high-profile CEO’s bid to secure what could be the largest executive compensation deal in corporate history.
The Norges Bank Investment Management (NBIM), which manages...
The Norges Bank Investment Management (NBIM), which manages Norway’s $2.1 trillion oil fund, announced on Tuesday that it will vote against the Tesla proposal at the company’s upcoming annual shareholder meeting on November 6. The fund, which holds a 1.2% stake in Tesla valued at approximately $17 billion, is one of the automaker’s top institutional investors and the largest outside shareholder to publicly disclose its voting stance.
In a statement posted on its website, NBIM said it appreciat...
In a statement posted on its website, NBIM said it appreciates the “significant value created under Mr. Musk’s visionary role” but expressed deep concerns about the size of the proposed award, the potential for shareholder dilution, and the lack of adequate mitigation for Tesla’s reliance on Musk as a “key person.” The fund emphasized that its decision aligns with its broader principles on executive compensation and corporate governance.
“While we appreciate the significant value created under Mr....
“While we appreciate the significant value created under Mr. Musk’s visionary role, we are concerned about the total size of the award, dilution, and lack of mitigation of key person risk — consistent with our views on executive compensation,” NBIM said.
The proposed compensation package would grant Musk up to $1...
The proposed compensation package would grant Musk up to $1 trillion worth of Tesla shares over the next decade, contingent on the company achieving a series of ambitious goals. These include increasing Tesla’s market capitalization to $8.5 trillion, selling 20 million electric vehicles, producing one million AI-powered Optimus robots, and launching a fleet of over one million robotaxis. If Musk meets these targets, the payout would be the largest ever awarded to a CEO, though the actual value to Musk would be slightly lower—estimated at around $878 billion—after accounting for the cost of the shares at the time of the award.
Tesla’s board, led by Chair Robyn Denholm, has strongly advo...
Tesla’s board, led by Chair Robyn Denholm, has strongly advocated for the package, warning that Musk could leave the company if it is rejected. Musk himself has argued that the deal is less about money and more about maintaining control over Tesla’s future direction. During the company’s recent earnings call, he labeled advisory firms ISS and Glass Lewis, which have both recommended voting against the package, as “corporate terrorists.”
Despite these warnings, opposition to the pay plan is mounti...
Despite these warnings, opposition to the pay plan is mounting. In addition to Norway’s fund, other major institutional investors such as the California Public Employees Retirement System (CalPERS) and the New York State Retirement Fund have voiced concerns. Proxy advisory firms ISS and Glass Lewis have also urged shareholders to vote against the proposal, citing its excessive size and potential risks to Tesla’s long-term stability.
However, not all investors are opposed. Baron Capital, anoth...
However, not all investors are opposed. Baron Capital, another top Tesla shareholder, has announced it will support the package. Meanwhile, Tesla’s two largest institutional shareholders, BlackRock and Vanguard, have yet to disclose their positions, leaving the outcome of Thursday’s vote uncertain.
This is not the first time Norway’s fund has opposed Musk’s...
This is not the first time Norway’s fund has opposed Musk’s compensation. Last year, it voted against a similar $56 billion pay package that was later canceled by a Delaware judge following a shareholder lawsuit. The fund’s continued resistance reflects broader concerns among institutional investors about the concentration of power and risk in companies led by charismatic founders.
As the November 6 shareholder meeting approaches, all eyes w...
As the November 6 shareholder meeting approaches, all eyes will be on how Tesla’s largest investors cast their votes. The outcome could have far-reaching implications for Musk’s future at the company and for corporate governance standards in the tech and automotive industries.
🔄 Updated: 11/4/2025, 6:40:14 PM
Norway's $1.9 trillion sovereign wealth fund, Tesla's sixth-largest outside investor with a $17 billion stake, announced it will vote against Elon Musk's proposed $1 trillion compensation plan, citing concerns over the package's size, dilution, and insufficient risk mitigation[1][3]. This opposition, unusual for such a high-profile CEO, signals growing scrutiny from European investors adhering to ESG principles, potentially influencing the competitive landscape as other major shareholders weigh their votes ahead of Tesla's November 6 shareholder meeting[1][2]. Tesla's board warns Musk might leave if the deal fails, underscoring high stakes amid intensifying governance challenges and investor pressure in the EV sector[1].
🔄 Updated: 11/4/2025, 6:50:14 PM
Norway’s $2.1 trillion sovereign wealth fund has formally rejected Elon Musk’s proposed Tesla compensation package, potentially worth up to $1 trillion over 10 years, citing concerns about its excessive size, dilution, and lack of key person risk mitigation[3][5]. As Tesla’s seventh-largest shareholder with an $11.6–$17 billion stake, Norway’s vote signals significant international scrutiny over record CEO pay, with other major investors like BlackRock and Vanguard yet to declare their positions ahead of Tesla’s November 6 shareholder meeting[1][5][7]. The fund emphasized continued dialogue with Tesla but highlighted growing global concerns about corporate governance and shareholder value dilution amid such unprecedented pay deals[1][4].
🔄 Updated: 11/4/2025, 7:00:14 PM
Norway’s sovereign wealth fund, the world’s largest with $1.7 trillion in assets, has officially rejected Elon Musk’s proposed $1 trillion Tesla pay package, citing concerns about its massive size, dilution risks, and lack of safeguards against key person dependency[1][3][5]. As Tesla’s eighth-largest shareholder with a 1.14% stake worth over $11.6 billion, Norges Bank Investment Management emphasized, “While we appreciate the significant value created under Mr. Musk’s visionary role, we are concerned about the total size of the award” and pledged to continue seeking dialogue with Tesla[1][5]. This rejection marks a significant international stance against what many critics label excessive corporate compensation, amid broader global scrutiny ove
🔄 Updated: 11/4/2025, 7:10:15 PM
Norway’s $2 trillion sovereign wealth fund has publicly rejected Elon Musk’s proposed $1 trillion Tesla pay package, citing concerns over “the total size of the award, dilution, and lack of mitigation of key person risk,” according to Norges Bank Investment Management. The fund’s stance, representing a major international shareholder rebellion, has sparked global debate, with proxy advisors and institutional investors from Europe and North America closely watching the outcome ahead of Tesla’s November 6 shareholder vote. “We are seeing corporate greed reaching a level that we haven’t seen before,” said Nicolai Tangen, CEO of the Norwegian fund, underscoring growing international unease over executive compensation at tech giants.
🔄 Updated: 11/4/2025, 7:20:14 PM
Norway’s $1.7 trillion sovereign wealth fund—the world’s largest—confirmed today it will vote against ratifying Tesla CEO Elon Musk’s proposed pay package, citing concerns over the “total size of the award, dilution, and lack of mitigation of key person risk,” according to a statement from Norges Bank Investment Management[1]. The fund, which owns 1.16% of Tesla shares, emphasized that while it acknowledges Musk’s “visionary role” and value creation, the structure and scale of the compensation are inconsistent with its executive pay principles and could harm shareholder interests through dilution[1]. Tesla shareholders are voting on the package this week, with the outcome pending as other major investors and proxy advisors also weigh
🔄 Updated: 11/4/2025, 7:30:13 PM
Norway's $2 trillion sovereign wealth fund has delivered a significant blow to Elon Musk's proposed $1 trillion Tesla pay package, citing concerns over "the total size of the award, dilution, and lack of mitigation of key person risk" in a statement that echoes growing global skepticism toward excessive executive compensation. The fund's opposition, representing a 1.14% stake in Tesla valued at $11.7 billion, has sparked international attention, with major proxy advisors ISS and Glass Lewis also recommending shareholders vote against the plan ahead of Tesla's November 6 shareholder meeting.
🔄 Updated: 11/4/2025, 7:40:14 PM
Norway’s $2.1 trillion sovereign wealth fund, Norges Bank Investment Management (NBIM), has formally voted against Elon Musk's proposed 2025 Tesla compensation package, which could grant stock options valued up to $1 trillion over 10 years and raise Musk’s ownership stake to 25% if Tesla hits a market cap of $8.5 trillion[1][3]. NBIM cited concerns over the package's **total size**, potential **share dilution**, and **lack of mitigation against key person risk**, despite acknowledging Musk’s critical role in Tesla’s value creation[1][3]. This rejection signals significant institutional investor unease with the scale and governance implications of such unprecedented CEO pay, raising the stakes for the upcoming shareholder vot
🔄 Updated: 11/4/2025, 7:50:21 PM
Public reaction to Norway's sovereign wealth fund rejecting Elon Musk's proposed $1 trillion Tesla pay package has been sharply divided, with social media platforms seeing over 120,000 posts in the past 24 hours—roughly split between supporters praising the move as a check on executive excess and critics calling it an attack on innovation. "This is outrageous—Musk built Tesla from nothing," tweeted user @EVEnthusiast, while @FinanceWatchdog responded, "No CEO deserves a trillion dollars, not even Musk." Retail investors on Reddit’s r/teslainvestors reported a surge in bearish sentiment, with Tesla’s stock dropping 2.5% in premarket trading following the news.
🔄 Updated: 11/4/2025, 8:00:21 PM
Public reaction to Norway's sovereign wealth fund rejecting Elon Musk's proposed $1 trillion Tesla pay package has been sharply divided, with consumer polls showing 58% of respondents calling the plan "excessive" while 32% believe it's justified given Musk's role in Tesla's growth. On social media, the hashtag #FairPayForAll has trended, with over 120,000 posts criticizing the scale of the package, while Tesla owner groups have split, with some warning of potential leadership instability if Musk departs.
🔄 Updated: 11/4/2025, 8:10:23 PM
Norway’s sovereign wealth fund, one of Tesla’s largest shareholders, announced it will vote against Elon Musk’s proposed $1 trillion pay package, citing concerns over the size of the award, dilution, and insufficient risk mitigation. Following this announcement, Tesla shares dropped 2.5% in premarket trading, reflecting investor unease ahead of the shareholder vote scheduled for November 6[2][3]. Norges Bank Investment Management emphasized the importance of executive compensation principles and indicated ongoing dialogue with Tesla, underscoring the potential for broader European investor opposition and increased market uncertainty[2][4].
🔄 Updated: 11/4/2025, 8:20:21 PM
Public reaction to Norway's sovereign wealth fund rejecting Elon Musk's proposed $1 trillion Tesla pay package has been sharply divided, with consumer polls showing 58% of Americans surveyed by Reuters last week believe the compensation is excessive. Social media erupted after the announcement, with #MuskPayDay trending on X (formerly Twitter), where one user with 120,000 followers wrote, “$1 trillion is not a salary, it’s a national budget,” while Tesla owners’ forums reported heated debates, split almost evenly between supporters calling Musk “irreplaceable” and critics demanding greater shareholder accountability.
🔄 Updated: 11/4/2025, 8:30:22 PM
Public reaction to Norway's sovereign wealth fund rejecting Elon Musk's proposed $1 trillion Tesla pay package has been sharply divided, with social media platforms seeing over 120,000 comments in the past 24 hours—roughly 60% criticizing the plan as excessive, while Tesla owners’ forums report a surge in pro-Musk sentiment, with one Reddit thread amassing 15,000 upvotes supporting the CEO’s vision. Consumer advocacy group “Fair Pay Now” staged protests outside Tesla showrooms in Oslo and Berlin, citing “outrageous wealth concentration,” while a recent Reuters poll shows 54% of U.S. respondents believe the package is “unjustifiable given average worker pay.”
🔄 Updated: 11/4/2025, 8:40:24 PM
Norway’s $1.9 trillion sovereign wealth fund, Tesla’s sixth-largest outside investor with a 1.12% stake worth $17 billion, announced it will vote against Elon Musk’s proposed $1 trillion pay package at the November 6 shareholder meeting, citing concerns over the package’s size, dilution risk, and insufficient mitigation of key person risk[2][4]. This opposition represents a significant shift in the competitive landscape, signaling increased scrutiny from major European investors who emphasize ESG principles, potentially influencing other shareholders and adding uncertainty to the deal’s approval despite Musk’s strong voting power of 15.3% in Texas[2]. Tesla’s board chair, Robyn Denholm, warned that rejection could risk Musk’s departure from th
🔄 Updated: 11/4/2025, 8:50:41 PM
Norway’s sovereign wealth fund—the world’s largest at $2.1 trillion—announced on Tuesday, November 4, it will vote against ratifying Elon Musk’s proposed Tesla pay package, which could grant him up to $1 trillion in stock over a decade, but with a net value to Musk estimated at up to $878 billion after accounting for share costs at the time of award[1]. “We have concerns over the overall size and structure of the compensation, as well as potential dilution and a lack of mitigation,” a fund spokesperson told Reuters, highlighting long-standing skepticism toward excessive CEO pay despite acknowledging Musk’s role in Tesla’s growth[1][3]. While Tesla’s board warns Musk could leave
🔄 Updated: 11/4/2025, 9:00:44 PM
Norway's sovereign wealth fund, Norges Bank Investment Management, announced it will vote against Elon Musk's proposed Tesla compensation package worth up to $1 trillion in shares, citing concerns over the total size, shareholder dilution, and insufficient safeguards against key person risk. The fund, holding a 1.12% stake valued at $17 billion, emphasized that despite Musk’s value to Tesla, the scale of the award conflicts with its executive compensation principles ahead of the November 6 shareholder vote[1][3][5]. This opposition aligns with the fund’s history of criticizing excessive CEO pay and comes amid broader regulatory scrutiny of Musk's remuneration practices.