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Tesla Faces Shareholder Opposition; Stock Drops Before Vote on Musk Pay
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Heartspace News Desk
•Source: Forbes
Photo by Luke Thornton on Unsplash
TL;DR
Tesla's stock fell by 2.6% in early trading on Tuesday, according to Forbes. This decrease occurred as Norway's sovereign wealth fund, a holder of 1.14% of Tesla's stock, announced it would vote against CEO Elon Musk's proposed $1 trillion compensation package at the upcoming shareholder meeting on Thursday.
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Key takeaways
- Tesla's stock experienced a 2
- 6% decline in early trading Tuesday, as reported by Forbes
- This drop coincided with an announcement from Norway's sovereign wealth fund, which holds a 1
Tesla's stock experienced a 2.6% decline in early trading Tuesday, as reported by Forbes. This drop coincided with an announcement from Norway's sovereign wealth fund, which holds a 1.14% stake in the electric vehicle manufacturer. The fund revealed its intention to vote against CEO Elon Musk's proposed compensation package at Thursday's shareholder meeting. The contentious pay package has been estimated to potentially reach a value of $1 trillion.
Related Topics
TeslaElon Muskshareholder voteexecutive compensationsovereign wealth fund
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