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Norway’s wealth fund vote is latest blow to Musk’s $1 trillion pay package

Norway’s sovereign wealth fund has voted against a Tesla proposal to give CEO Elon Musk a compensation package worth 1trillion.Thefund,whichismanagedbyNorgesBankInvestmentManagement(NBIM),holdsa1.141 trillion. The fund, which is managed by Norges Bank Investment Management (NBIM), holds a 1.14% stake in Tesla valued at about 11.7 billion, according to its mid-year filings in June. “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 wi ...