{"id":270965,"date":"2025-11-04T13:48:12","date_gmt":"2025-11-04T13:48:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/270965\/"},"modified":"2025-11-04T13:48:12","modified_gmt":"2025-11-04T13:48:12","slug":"big-tesla-investor-will-vote-against-musks-massive-pay-package","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/270965\/","title":{"rendered":"Big Tesla investor will vote against Musk’s massive pay package"},"content":{"rendered":"

Norway\u2019s sovereign wealth fund, one of Tesla\u2019s biggest investors, said Tuesday that it will vote against a proposed compensation package that could pay CEO Elon Musk as much as $1 trillion<\/a> over a decade. <\/p>\n

There will be more than a dozen company proposals up for a vote Thursday during Tesla\u2019s annual meeting, but none have generated more division than Musk\u2019s potentially massive pay package.<\/p>\n

\u201cWhile we appreciate the significant value created under Mr. Musk\u2019s 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,\u201d said Norges Bank Investment Management, which manages the country\u2019s Government Pension Fund Global. \u201cWe will continue to seek constructive dialogue with Tesla on this and other topics.\u201d <\/p>\n

The fund has a 1.16% stake, the sixth largest holding among institutional investors. <\/p>\n

Baron Capital Management, which holds about 0.4% of Tesla\u2019s outstanding shares said Monday that it will vote in favor of the compensation package. <\/p>\n

\u201cElon is the ultimate \u201ckey man\u201d of key man risk. Without his relentless drive and uncompromising standards, there would be no Tesla,\u201d wrote founder Ron Baron. \u201cHe has built one of the most important companies in the world. He\u2019s redefining transportation, energy and humanoid robotics and creating lasting value for shareholders while doing it. His interests are completely aligned with investors.\u201d<\/p>\n

Musk is the company\u2019s largest investor<\/a>, holding 15.79% of all outstanding shares. <\/p>\n

Tesla management has proposed a compensation arrangement that would hand Musk shares worth as much as 12% of the company in a dozen separate packages if the company meets ambitious performance targets, including massive increases in car production, share price and operating profit.<\/p>\n","protected":false},"excerpt":{"rendered":"Norway\u2019s sovereign wealth fund, one of Tesla\u2019s biggest investors, said Tuesday that it will vote against a proposed…\n","protected":false},"author":2,"featured_media":257830,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[28,33357,11,1904,793,851,6803,145042,1019,1022,1059,965],"class_list":{"0":"post-270965","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-compensation-and-benefits","10":"tag-elon-musk","11":"tag-financial-services","12":"tag-general-news","13":"tag-inc","14":"tag-norway","15":"tag-ron-baron","16":"tag-tesla","17":"tag-texas","18":"tag-tx-state-wire","19":"tag-world-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/270965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=270965"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/270965\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/257830"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=270965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=270965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=270965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}