ExclusiveTesla Investor Rejects Elon Musk's $1 Trillion Payment Package

Main Street
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405 Video Views·Nov 4, 2025
Norway's sovereign wealth fund, Tesla's sixth largest outside investor,
said on Tuesday that it would vote against ratifying a proposed pay deal for CEO Elon Musk,
which is potentially worth $1 trillion.
While we appreciate the significant value created under Mr Musk's visionary role,
we are concerned about the total size of the award, dilution, and lack of mitigation of key
person risk. Consistent with our views on executive compensation, the sovereign wealth fund said on
its website. The move added uncertainty to the outcome of a ballot set for Thursday.
However, Musk's pay package is still seen as likely to win with broad support from investors
and backing of Tesla's large retail shareholder base.
Musk can also vote for the deal with the 15.3% voting power he was granted in August.
Tesla's board is pushing for shareholders to approve the plan, with Chair Robin Denholm
warning that Musk could leave the $1.5 trillion market cap firm if the deal is rejected.
