Norway's Sovereign Fund Rejects Musk's $56B Pay

Norway's $1.7 trillion sovereign wealth fund announced it will vote against Tesla CEO Elon Musk's $56 billion pay package, which is scheduled for a shareholder vote next week. This decision follows a Delaware judge's earlier invalidation of the compensation package. NBIM is Tesla's eighth-biggest shareholder.

Norway's $1.7 trillion sovereign wealth fund said on Saturday it will vote against ratifying Tesla CEO Elon Musk's $56 billion pay package, which is up for a shareholder vote next week, after a Delaware judge invalidated it earlier this year.

NBIM is Tesla's eighth-biggest shareholder, according to LSEG data.