Carmaker’s seventh biggest single investor will vote against package at annual shareholder meeting
Norway’s sovereign wealth fund has said it will vote against a $1tn (£765bn) pay package for the Tesla chief executive, Elon Musk.
The fund, which is the biggest national wealth fund in the world, said that while it appreciated the “the significant value created under Mr Musk’s visionary role” it would vote against his performance award.
“We are concerned about the total size of the award, dilution and lack of mitigation of key person risk – consistent with our views on executive compensation,” it said. “We will continue to seek constructive dialogue with Tesla on this and other topics.”
“Shoddy work” is a bit of an understatement. He personally turned the people most likely to buy Teslas (left-leaning, EV/tech fans, environmentalists, etc) against the company, promoted 2016 election lies, did a Nazi salute at a far-right rally, illegally decimated public services and fired 100s of thousands of career government workers despite never being confirmed by Congress, installed unauthorized servers at several government institutions and had his private companies access federal databases of all our individual personal information. He instituted an illegal “pay for votes” lottery scheme, and became the largest election donor by creating a $250 million super PAC for Trump. He’s so completely toxic to the brand people have sworn to never have anything to do with Tesla just because of him.
The neighborhood I live in has maybe 200 houses (this is all my eyeball, napkin math, butthole statistics), of those 200 houses about 30% of them are by appearance alone people of non-European ethnicity. There are maybe 15 Teslas in the entire hood, and all but about 2 of them are owned by PoC households.
Generally speaking the hood is pretty left-leaning, though not extremely most of them don’t put up any political affiliation propaganda. I have long since though that most people have to see Tesla as a societal status mark more than anything else. People talk about owning a Tesla the same way they do a Rolex or Louis handbag. It isn’t that they are bad brands or badly crafted object, but they are not worth the cost of materials.
So I can only think of the ratio of people in my area that own Teslas as essentially an attempt to, crude as it may sound, “Force the feeling of ‘Being American’”
Interesting. I assume this is in the US? Also, please keep your butthole napkins to yourself…
I think I feel a bit sick now.
Sounds like a slam dunk treason case