Norway’s Oil Fund to Oppose Elon Musk’s Record $1 Trillion Tesla Pay Deal
Today we’re diving into the showdown between Tesla’s board and one of its major shareholders: Norway’s sovereign wealth fund. The fund has announced it will vote *against* Elon Musk’s proposed up-to $1 trillion compensation package at the upcoming shareholder meeting. While the board argues such an incentive is needed to retain Musk and keep driving Tesla’s growth, the fund raises serious flags: the total size of the award, the risk of diluting other shareholders, and the dependence on one individual’s performance. This isn’t just about a big number—it’s about governance, accountability and how big is *too* big for executive pay in a publicly-traded company. Stay tuned as we break down the motivations, the implications for Tesla, and what this could mean for corporate governance practices going forward.