Norwegian Sovereign Wealth Fund Votes Against Elon Musk's $1 Trillion Tesla Pay Package

Norway's sovereign wealth fund, the world's largest and a significant Tesla shareholder, has publicly declared its intention to vote against Elon Musk's proposed $1 trillion CEO compensation package. The fund appreciates Musk's visionary leadership and the substantial value he has created but raised concerns about the package's size, potential dilution of shares, and the lack of mitigation for key person risk. This marks the second time the fund has opposed Musk's pay plans, signaling ongoing unease despite the CEO's market impact. The $1 trillion package hinges on ambitious targets, including growing Tesla's market cap to $8.5 trillion and expanding its product sales, which, if met, could make Musk the world's first trillionaire. Tesla's chair has warned that rejecting the deal could risk Musk's departure, potentially causing significant value loss. Other major institutional investors like BlackRock and Vanguard have yet to announce their voting stance, with the shareholder meeting imminent.