Norway’s sovereign wealth fund, one of Tesla’s most massive institutional investors, has announced a vote against the proposed compensation package of Elon Musk. The plan which could reward Musk as much as $1 trillion over the next 10 years, has incited heated discussions prior to Tesla’s annual shareholder meeting being held on November 6, 2025.
The fund is managed by Norges Bank Investment Management and owns 1.16 percent of Tesla. This makes it the 6th largest institutional investor in the company.
In a public statement, the fund also asserted its commitment to responsible investment practices and indicated that executive pay must align with shareholder long term interests. The fund noted that it will continue to hold constructive dialogues with Tesla on that and other governance matters.
A Divided Investor Landscape
Norway’s fund has chosen to withdraw the measure, while other investors have taken measures. Baron Capital Management, which owns around 0.4 percent of Tesla shares, has announced backing for Musk’s pay plans. It explained that Musk has true visionary leadership and has led Tesla’s growth and innovation to transformation.
Conclusion
As the vote nears, all eyes across finance and corporate America will be on the developments. Norway’s sovereign wealth fund decision will weigh in the debate it seeks to weigh into and reflect an increased demand for accountability on how executives are compensated.
