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

image via TechCrunch

November 4, 2025, 6:24 PM

• •Norway's wealth fund, holding a 1.14% stake, opposed the pay package.
• •Concerns include award size, dilution, and key person risk.
• •Advisory groups like ISS and Glass Lewis also recommend voting against the package.
• •Musk has implied he might leave Tesla if the package isn't approved.

Norway's sovereign wealth fund, holding a significant stake in Tesla, voted against the proposed $1 trillion compensation package for CEO Elon Musk. The fund cited concerns about the award's size, dilution, and key person risk. This rejection adds to Tesla's challenges in getting shareholder approval for Musk's historic pay package, with advisory groups also opposing it. Musk has linked his continued leadership to the package's approval.

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