Norway's sovereign wealth fund, one of Tesla's biggest investors, said on November 4 that it will vote against a proposed compensation package that could pay CEO Elon Musk as much as $1 trillion over a decade.
Musk's focus on winning the artificial-intelligence arms race leads to long hours at xAI. Employees were compelled to turn over biometric data to develop controversial avatars.
Tesla, Inc. warrants a fresh valuation approach as new catalysts—lower-priced models and Q3 updates—drive a strong share price rally. Adaptation of new technologies has largely followed a 10-10 rule (10 years to build and another 10 for mass penetration). Recent exponential growth in TSLA's autonomous driving miles and updates on futuristic technologies could allow TSLA to break the typical 20-year tech adoption cycle.
Elon Musk's future at Tesla could be in the balance on Thursday when Tesla shareholders vote on whether to approve his record-shattering $1 trillion pay package.
Norway's sovereign wealth fund announced on Tuesday that it will vote against Tesla Inc (NASDAQ:TSLA) CEO Elon Musk's proposed compensation package at the company's annual shareholder meeting on November 6. The package is contingent on Tesla achieving ambitious milestones over the next decade, including growing the company's market value to $8.5 trillion.
More than two months ago, Tesla published its fourth “Master Plan,” a gauzy post about how the company wants to spread “sustainable abundance” via its future products. Details remain woefully absent, but that hasn't stopped Tesla from making it the central prop in its bid to convince shareholders to hand CEO Elon Musk a compensation package worth $1 trillion at the company's annual meeting on Thursday.
Tesla's stock dropped 2.6% after markets opened on Tuesday, shortly after Norway's sovereign wealth fund, which owns a 1.14% stake in the electric car maker, announced it would vote Thursday against a pay package for CEO Elon Musk that could be worth $1 trillion.
Tesla, Inc.'s 2025 CEO Performance Award turns CEO Elon Musk's vision of an AI-first, robotics-driven future into a tangible financial blueprint—arguably the boldest incentive plan in market history. By linking Musk's compensation to nearly mythical milestones—$8.5T market cap, 20M vehicles, 10M FSD users, 1M bots, and 1M robotaxis— Tesla converts market belief into measurable execution. Whether or not these targets are achievable, Tesla's plan reinforces its unique ability to monetize vision, proving that in today's market, clarity of ambition can be as valuable as cash flow.
Tesla Inc. (NASDAQ: TSLA) cannot get a break anywhere.
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Tesla wants to make Elon Musk, the world's richest person, even richer. Again.
The Norwegian Government Pension Fund Global owns a 1.14% stake in Tesla, which in June was worth around $11.7 billion. This is not the first time the fund has opposed a proposed compensation plan for Musk.