The Norwegian sovereign fund, one of Tesla's main shareholders, will vote against the $1 trillion compensation package for Elon Musk.

The Norwegian sovereign fund, one of Tesla's main shareholders, announced that it will vote against a financial package of over 1 trillion dollars intended for founder Elon Musk. Although it acknowledges his significant contributions, the fund expresses concern about the total value of the compensation, the dilution of shares, and the lack of risk mitigation measures associated with dependence on a single individual.

The fund, which owned 1.14% of Tesla as of June 30, 2025, will participate in the general shareholders' meeting in Austin, Texas, where the proposed compensation plan will be discussed, which could offer Musk up to 12% of the current capital, depending on the achievement of ambitious goals. The Norwegian fund previously voted against another compensation plan for Musk, and relations with Tesla's management have significantly deteriorated following this incident.