Elon Musk’s $1tn Tesla pay deal to be rejected by huge Norway wealth fund
undefined 4, 2025
Norway’s $1.7 trillion sovereign wealth fund will vote against Tesla’s proposed $1 trillion pay package for Elon Musk, citing its “excessive size” and risks tied to Musk’s dominance. The fund, Tesla’s seventh-largest shareholder, had also opposed his earlier $56 billion deal. The new plan could boost Musk’s stake to 25% and his fortune above $2 trillion if Tesla’s value rises to $8.5 trillion. Major investors and proxy firms Glass Lewis and ISS also urge rejection as Tesla faces falling sales in key markets.
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