Norway's Wealth Fund Opposes Musk's Billion-Dollar Pay

Norway's $1.7 trillion sovereign wealth fund announced its decision to vote against Elon Musk's $56 billion pay package at Tesla, following its earlier invalidation by a Delaware judge. NBIM, Tesla's eighth-largest shareholder, is preparing for the upcoming shareholder vote next week.

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.