Norway’s sovereign wealth fund plans to reject $1 trillion Tesla CEO pay day

Norway’s sovereign wealth fund said on Tuesday at an annual general meeting that it would vote against Elon Musk’s $1 trillion compensation package. Investors in Tesla will vote on the package on November 6. The package is considered one of the largest-ever CEO compensation agreements. The Norwegian wealth fund, the world’s largest, is the first to disclose its decision on how it plans to vote. Musk threatens to exit Tesla if compensation package gets rejected Baron Capital said on Monday it would back Musk’s pay package. Other Tesla investors , including BlackRock, Vanguard, and State Street, have yet to reveal their voting plans on the package. There has been mounting pressure from Tesla’s board on shareholders to approve the plan. The company’s chair, Robyn Denholm, warned last week that Musk would exit the electric car manufacturer if the deal is rejected. The package is expected to grant shares worth up...

https://www.cryptopolitan.com/norway-musk-tesla-compensation-package/