Major Tesla shareholder to vote against Musk's $1.5 trillion pay deal

Major Tesla Shareholder to Vote Against Musk's $1.5 Trillion Pay Deal

Norway's sovereign wealth fund has announced it will oppose the ratification of Tesla CEO Elon Musk's proposed compensation package, which could be worth up to $1.54 trillion.

Background

The world's largest sovereign wealth fund holds the seventh-largest stake in Tesla and is currently the biggest shareholder to declare its voting intention ahead of the annual general meeting on November 6.

Details of the Compensation Package

The pay deal is potentially the largest-ever CEO compensation agreement.
It is valued at approximately $1.5 trillion based on Tesla’s market capitalization.

Opposition and Support

Critics have called the pay deal excessive but face an uphill fight against it.

Tesla’s board strongly supports the package, with chair Robyn Denholm warning that Musk could leave the company if the plan is rejected.

Opponents worry that it will give the world's richest man too much unchecked power.

Voting Outcome

Investors will vote on the deal during the annual meeting, determining whether the compensation plan will be approved.

Author’s summary: Norway’s sovereign wealth fund opposes Elon Musk's record-breaking pay deal for its risks, setting the stage for a crucial shareholder vote on November 6.

Australian Broadcasting Corporation — 2025-11-04