From Investing.com: 2024-06-08 22:45:31

Norway’s sovereign wealth fund, a major Tesla shareholder, will vote against Elon Musk’s $56 billion pay package due to concerns over its size and structure. The fund criticized the excessive CEO pay and supported a shareholder proposal for Tesla to adopt a freedom of association and collective bargaining policy.

In response to the fund’s decision, Musk called it “not cool” and claimed there would be overwhelming support for his pay package. The wealth fund also voted for transferring Tesla’s state of incorporation to Texas from Delaware and for electing Musk’s brother, Kimbal, to the board of directors at the upcoming annual meeting on June 13.



Read more at Investing.com: Norway wealth fund to vote against Musk’s $56 billion Tesla pay package By Reuters