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The Independent UK
The Independent UK
National
Via AP news wire

Norwegian wealth fund to vote against Elon Musk's Tesla pay package

Copyright 2023 The Associated Press. All rights reserved

Norway's sovereign wealth fund operated by Norges Bank Investment Management said Saturday it will vote against Elon Musk's hefty CEO compensation package during Tesla's annual meeting on Thursday.

It's the latest pushback over the size of the pay package, which was recently valued by the company at $44.9 billion, but in January had a value of about $56 billion. In May, two big shareholder advisory firms, ISS and Glass Lewis, recommended voting against the package.

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