“No.” Major Tesla shareholder rejects Musk’s trillion-dollar pay plan

One of Tesla’s largest investors — Norway’s sovereign wealth fund — has announced it will vote against the company’s $1 trillion compensation package for CEO Elon Musk.

A rare public rebuke

The Norwegian fund, which holds about 1.14 percent of Tesla, said that while it recognizes Musk’s achievements, the proposal raises “concerns about size, dilution, and risk concentration.”

The plan in question

Tesla’s board is asking shareholders to approve a new ten-year package that could grant Musk up to 12 percent more ownership if the company meets ambitious performance goals.

A trillion-dollar reward

If fully realized, the plan would make it the largest executive payout in corporate history.

“Visionary leadership, but…”

The Norwegian fund said it values Musk’s innovation but criticized the lack of safeguards ensuring Tesla’s long-term stability beyond its founder.

A strained relationship

Last year, the fund also opposed a previous pay plan that was later struck down by a Delaware judge — a ruling Tesla is still appealing.

Norway’s enormous influence

The fund, worth more than €1.8 trillion, is one of the world’s biggest investors and a key voice in global corporate governance.

Growing shareholder unease

Analysts say its stance could sway other large investors who worry that Tesla’s governance is too centered on Musk’s decisions.

A crucial vote ahead

Tesla’s annual meeting in Austin will determine whether shareholders back the board’s plan or side with critics demanding limits on Musk’s influence.

Beyond one company

The outcome will be seen as a test of how far investors are willing to go in rewarding a single individual for a company’s success.

Musk’s silence so far

Tesla and Musk have not commented on the Norwegian fund’s decision, though Musk has previously dismissed such objections as “short-sighted.”

Power, pay, and accountability

The vote will reveal whether Tesla’s shareholders believe the world’s richest man deserves to become even richer — or whether enough is finally enough.

This article is made and published by Asger Risom, who may have used AI in the preparation