Tesla shareholders are voting this week on a proposed $1 trillion compensation package for CEO Elon Musk, a plan that has sharply divided investors.
Norway’s sovereign wealth fund, one of Tesla’s top institutional shareholders, said it would vote against the deal, citing concerns over its “total size,” potential stock dilution, and Musk’s outsized influence on the company.
Norway’s $2 trillion sovereign wealth fund said it will vote against Elon Musk’s trillion-dollar pay package at Tesla’s annual shareholder meeting this week, rebelling against management guidance and threats from Musk to step down if the deal is rejected.
— CNBC International (@CNBCi) November 4, 2025
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The fund, which manages Norway’s government pension, holds a 1.16% stake in Tesla. In contrast, Baron Capital Management announced it would back the plan, calling Musk “one of the most important innovators in the world.”
The pay proposal, introduced by Tesla’s board in September, ties Musk’s potential payout to major performance milestones, including reaching an $8.5 trillion market value, 20 million car deliveries, and production of 1 million robotaxis and 1 million Optimus robots.
Is Elon Musk worth $1 trillion? Shareholders get to decide https://t.co/RtchtGRvMo
— Los Angeles Times (@latimes) November 4, 2025
Board chair Robyn Denholm warned that rejecting the plan could risk Musk’s departure from Tesla.
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TIPP Staff
