Norwegian wealth fund to vote against Elon Musk’s Tesla pay package
7 months ago

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

Associated Press  

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. “While we appreciate the significant value generated under Mr. Musk’s leadership since the grant date in 2018, we remain concerned about the total size of the award, the structure given performance triggers, dilution, and lack of mitigation of key person risk,” Norges Bank Investment Management said in a statement on its website. “We will continue to seek constructive dialogue with Tesla on this and other topics.” Tesla asked shareholders to restore Musk’s pay package after it was rejected by a Delaware judge this year. The fund also plans to vote for several shareholder policies that management has recommended shareholders vote against, including a proposal to adopt a noninterference policy respecting freedom of association and collective bargaining; adopting a simple majority vote; declassifying the board of directors; and publishing reports on harassment and discrimination prevention efforts.

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History of this topic

Norway PM worried by Musk involvement in politics outside US
2 days, 12 hours ago

Norway PM worried by Musk involvement in politics outside US

Hindustan Times  

OSLO -Norway's Prime Minister Jonas Gahr Stoere said on Monday that he found it worrying that billionaire Elon Musk was involving himself in the political issues of countries outside of the United States. Norway PM worried by Musk involvement in politics outside US Musk, a close ally of U.S. President-elect Donald Trump, last month endorsed a German anti-immigration, anti-Islamic political …

Musk's $55.8 bn Tesla pay deal again rejected by US judge
1 month ago

Musk's $55.8 bn Tesla pay deal again rejected by US judge

Deccan Chronicle  

Washington: A US judge on Monday upheld her decision to reject Elon Musk's massive $55.8 billion compensation package at Tesla, denying an attempt to restore the pay deal through a shareholder vote. In a court filing, Chancellor Kathaleen McCormick of Delaware's Court of Chancery ruled that Tesla's attempt to ratify Musk's compensation package through a June shareholder vote could not …

Elon Musk loses $56 billion pay package in latest court ruling
1 month ago

Elon Musk loses $56 billion pay package in latest court ruling

Salon  

A Delaware judge on Monday denied Tesla CEO Elon Musk his $58 billion pay plan, upholding her prior ruling that it was improperly granted. Judge Kathaleen McCormick, who ruled to void Musk’s pay package in January, said they only way the pay package could have been approved was due to Musk’s unilateral “control” over Tesla. Related Why tech billionaires dress …

Norway $1.8 Trillion Fund’s CEO Sees Rare Political Unity as Key
1 month, 2 weeks ago

Norway $1.8 Trillion Fund’s CEO Sees Rare Political Unity as Key

Live Mint  

-- Norway’s $1.8 trillion sovereign wealth fund benefits from a rare consensus among its political masters, according to Chief Executive Officer Nicolai Tangen, unlike other countries which are exploring such an option. “We have a very constant investment philosophy and I think that’s really one of the success factors behind the fund,” Tangen said, speaking in a Bloomberg TV interview. …

Elon Musk To Get Back His Big, $44.9 Billion Tesla Pay Package, Shareholders Give Approval
6 months, 3 weeks ago

Elon Musk To Get Back His Big, $44.9 Billion Tesla Pay Package, Shareholders Give Approval

News 18  

Tesla shareholders voted on Thursday to restore CEO Elon Musk’s record USD 44.9 billion pay package that was thrown out by a Delaware judge earlier this year, sending a strong vote of confidence in his leadership of the world’s largest electric vehicle maker. Early Friday, Tesla disclosed that shareholders voted for Musk’s pay package by 1,760,780,650 to 528,908,419, with about …

Elon Musk Wins Back His $44.9 Billion Tesla Pay Package In Shareholder Vote
6 months, 3 weeks ago

Elon Musk Wins Back His $44.9 Billion Tesla Pay Package In Shareholder Vote

News 18  

Tesla shareholders voted Thursday to restore CEO Elon Musk’s record $44.9 billion pay package that was thrown out by a Delaware judge earlier this year, sending a strong vote of confidence in his leadership of the electric vehicle maker. Vote totals on Musk’s pay weren’t immediately announced, but the company said shareholders voted for Musk’s compensation plan, which initially was …

‘I love you guys!’: Elon Musk lands $44.9bn pay deal after Tesla vote
6 months, 3 weeks ago

‘I love you guys!’: Elon Musk lands $44.9bn pay deal after Tesla vote

Al Jazeera  

Musk hails ‘awesome shareholder base’ after vote to restore compensation deal rejected by US judge. The shareholders’ vote does not necessarily mean Musk will receive the pay package but could bolster Tesla’s appeal against the Delaware ruling against the deal. Under the terms of his 2018 pay deal, Musk agreed to be paid stock worth about 1 percent of Tesla’s …

Tesla shareholders strongly support Elon Musk’s $44.9-billion pay package
6 months, 3 weeks ago

Tesla shareholders strongly support Elon Musk’s $44.9-billion pay package

LA Times  

Tesla shareholders voted to restore Chief Executive Elon Musk’s record $44.9-billion pay package that was thrown out by a Delaware judge earlier this year. Tesla shareholders voted Thursday to restore Chief Executive Elon Musk’s record $44.9-billion pay package that was thrown out by a Delaware judge earlier this year, sending a strong vote of confidence in his leadership of the …

Elon Musk wins back his $44.9 billion Tesla pay package in shareholder vote
6 months, 3 weeks ago

Elon Musk wins back his $44.9 billion Tesla pay package in shareholder vote

NPR  

Elon Musk wins back his $44.9 billion Tesla pay package in shareholder vote toggle caption Ebrahim Noroozi/AP DETROIT — Tesla shareholders voted Thursday to restore CEO Elon Musk's record $44.9 billion pay package that was thrown out by a Delaware judge earlier this year, sending a strong vote of confidence in his leadership of the electric vehicle maker. Vote totals …

Elon Musk vows Tesla investors will approve his record £44bn pay deal
6 months, 3 weeks ago

Elon Musk vows Tesla investors will approve his record £44bn pay deal

Daily Mail  

Elon Musk declared victory last night ahead of a vote by Tesla shareholders on his record £44billion pay package. Record pay: Tesla boss Elon Musk said investors were set to approve his £44bn package Influential proxy advisers, Institutional Shareholder Services and Glass Lewis, opposed the deal and Tesla’s eighth-largest shareholder, Norway’s sovereign wealth fund, came out against the package. Dan …

Bill Ackman defends Elon Musk’s call for $56 billion pay package in Tesla: ‘Taking away compensation is theft’
6 months, 3 weeks ago

Bill Ackman defends Elon Musk’s call for $56 billion pay package in Tesla: ‘Taking away compensation is theft’

Live Mint  

Bill Ackman American billionaire hedge fund manager on Thursday, June 13, extended support to Tesla CEO Elon Musk, who has sought approval for a $56 billion pay package from shareholders. Taking away @elonmusk’s compensation after he created enormous value for shareholders is theft.” He added, “And stealing from a CEO who has created spectacular value for shareholders is not a …

Future of Elon Musk and Tesla are on the line this week as shareholders vote on massive pay package
6 months, 4 weeks ago

Future of Elon Musk and Tesla are on the line this week as shareholders vote on massive pay package

The Independent  

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

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

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Group of Tesla shareholders ask investors to vote against Musk’s compensation package
7 months, 2 weeks ago

Group of Tesla shareholders ask investors to vote against Musk’s compensation package

Associated Press  

A group of Tesla shareholders is asking investors to vote against a compensation package worth more than $40 billion for CEO Elon Musk, saying that it’s not in the electric vehicle maker’s best interest. The shareholder group, which includes New York City Comptroller Brad Lander, SOC Investment Group and Amalgamated Bank, said in a letter to shareholders that ratification of …

Bumper profits for Norway's giant wealth fund led by a strong performance by tech companies
11 months, 1 week ago

Bumper profits for Norway's giant wealth fund led by a strong performance by tech companies

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Norway’s oil fund reported the …

Musk tells jury buying Tesla at $420 a share was no joke
1 year, 11 months ago

Musk tells jury buying Tesla at $420 a share was no joke

Hindustan Times  

Elon Musk on Monday told jurors that his 2018 tweet about taking Tesla private at $420 a share was no joke and that Saudi Arabia's sovereign wealth fund was serious about helping him do it. The case revolves around a pair of tweets in which Musk said, "funding secured" for a project to buy out the publicly-traded electric automaker, then …

Musk says he had ‘no ill motive’ with his privatising Tesla tweet
1 year, 11 months ago

Musk says he had ‘no ill motive’ with his privatising Tesla tweet

Al Jazeera  

Billionaire Elon Musk is on trial for fraud claims for his 2018 tweet that he had ‘funding secured’ to privatise Tesla at $420 per share. Elon Musk testified that he had “no ill motive” when he tweeted in 2018 that he had funding lined up to buy out his electric car company Tesla Inc, a claim that some shareholders have …

UPDATE 1-Norway's sovereign wealth fund to vote against Apple management's pay plan
2 years, 10 months ago

UPDATE 1-Norway's sovereign wealth fund to vote against Apple management's pay plan

The Hindu  

Norway's $1.3 trillion sovereign wealth fund, the world's largest, will vote against ratification of tech giant Apple Inc's management remuneration plan after an advisory firm urged investors to act, the fund's manager said on Sunday. The Norwegian fund owns 1.03% of Apple's shares, making it the company's eighth largest shareholder, according to Refinitiv data. Chief Executive Tim Cook's pay in …

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