Elon Musk’s jaw-dropping $1 trillion pay package just hit another roadblock, and this time it’s coming from one of the world’s most influential investors. Norway’s sovereign wealth fund, a heavyweight in global markets, has voted against Tesla’s proposal, dealing a symbolic blow to Musk’s ambitious compensation plan. But here’s where it gets controversial: Is this a fair rejection of an unprecedented payout, or is it a missed opportunity to reward the man behind Tesla’s meteoric rise? Let’s dive in.
Posted: 10:24 AM PST · November 4, 2025
Norway’s Government Pension Fund Global, managed by Norges Bank Investment Management (NBIM), holds a 1.14% stake in Tesla, valued at approximately $11.7 billion, according to its mid-year filings (https://www.nbim.no/en/investments/all-investments/#/2025/investments/equities/8115/Tesla%20Inc). In a statement on its website (https://www.nbim.no/no/ansvarlig-forvaltning/stemmegiving/var-stemmegivning/meeting?m=1994609), the fund acknowledged Musk’s visionary leadership but expressed deep concerns about the package’s sheer scale, potential dilution of shareholder value, and the lack of safeguards against ‘key person risk.’ In simpler terms, they’re worried that Tesla’s success is too heavily tied to one individual—a risky bet for any company.
And this is the part most people miss: While NBIM’s vote is significant, it may not be enough to derail the proposal. Tesla has been on a months-long campaign to convince shareholders, but advisory giants like ISS and Glass Lewis (https://www.ft.com/content/3f63106a-5dc0-4413-8eac-41ca29f214e1) have also urged investors to reject the deal. Musk, however, frames the issue differently. He argues the package isn’t about the money—it’s about securing control over Tesla’s future, especially as the company ventures into AI and robotics. During a recent earnings call (https://techcrunch.com/2025/10/22/elon-musk-frets-over-controlling-teslas-robot-army-as-car-biz-rebounds/), he even threatened to leave if the package fails. Talk about high stakes!
Here’s the bigger question: Is Musk’s $1 trillion pay package a justified reward for his transformative leadership, or is it an excessive gamble that undermines shareholder interests? Norway’s wealth fund clearly leans toward the latter, but the debate is far from over. What do you think? Is this a fair rejection, or is Tesla risking losing its driving force? Let’s spark a conversation in the comments—because this is one corporate drama that’s far from finished.
