Skip to content
August 30, 2025
  • Facebook
  • Twitter
  • Instagram
  • Youtube
  • tiktok
MILLENNIUM NEWS 24/7

MILLENNIUM NEWS 24/7

Bridging The Community’s World Wide

  • Home
  • IP TV LIVE
  • PODCAST
  • U.S.News
  • LOCAL ELECTION
  • State News
    • Alabama
    • Alaska
    • Arizona
    • Arkansas
    • California
    • Colorado
    • Connecticut
    • Delaware
    • Florida
    • Georgia
    • Hawaii
    • Idaho
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Louisiana
    • Maryland
    • Massachusetts
    • Michigan
    • Maine
    • Minnesota
    • Mississippi
    • Missouri
    • Montana
    • Nebraska
    • Nevada
    • New Hampshire
    • New Jersey
    • New Mexico
    • New York
    • North Carolina
    • North Dakota
    • Oregon
    • Pennsylvania
    • Rhode Island
    • South Carolina
    • South Dakota
    • Tennessee
    • Texas
    • Virginia
    • Washington
    • West Virginia
    • U.S. Virgin Islands
  • Politics
  • World News
  • Sports
  • Entertainment
  • Weather
  • Business
  • Health News
  • ADVERTISEMENT
  • About Us
  • Contact us
Live TV

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

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.

It’s the latest pushback over the size of the pay package, which was recently valued by the company at $44.9 billion, but in January had a value of about $56 billion. In May, two big shareholder advisory firms, ISS and Glass Lewis, recommended voting against the package.

“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.”

The fund, called the Government Pension Fund Global, which has a .98% stake in Tesla worth $7.72 billion, voted against the package initially in 2018.

The fund invests proceeds from the country’s oil and gas industry to secure pensions for future generations in Norway. It is worth 17.80 trillion Norwegian Krone ($1.67 trillion). Because of its sheer size, the fund does not reinvest all its money in Norway, or it would overheat the economy. It invests in 72 countries worldwide.

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.

About Author

Habib Habib

See author's posts

Post navigation

Previous Florida authorities warn of shark dangers along Gulf Coast beaches after 3 people are attacked
Next Takeaways from Hunter Biden’s gun trial: His family turns out as his own words are used against him

Related Stories

Dr Pepper will unwind its merger with Keurig from 7 years ago after buying Peet’s for $18 billion

Dr Pepper will unwind its merger with Keurig from 7 years ago after buying Peet’s for $18 billion

European postal services suspend shipment of packages to US over import tariffs

European postal services suspend shipment of packages to US over import tariffs

Fed Chair Powell faces fresh challenges to Fed independence amid potential rate cuts

Fed Chair Powell faces fresh challenges to Fed independence amid potential rate cuts

Entertainment

Julia Roberts’ ‘After the Hunt’ stirs #MeToo debate at Venice Film Festival 1

Julia Roberts’ ‘After the Hunt’ stirs #MeToo debate at Venice Film Festival

Rodion Shchedrin, the celebrated Russian composer, has died at age 92 2

Rodion Shchedrin, the celebrated Russian composer, has died at age 92

James Cameron on two decades of making ‘Avatar’ and the future he sees for movies 3

James Cameron on two decades of making ‘Avatar’ and the future he sees for movies

Katy Perry testifies that she’s seeking ‘justice’ at trial over $15 million mansion 4

Katy Perry testifies that she’s seeking ‘justice’ at trial over $15 million mansion

Lil Nas X charged with attacking police officers as he walked naked on Los Angeles street 5

Lil Nas X charged with attacking police officers as he walked naked on Los Angeles street

Pennsylvania’s Chautauqua is a summertime haven for lifelong learners 6

Pennsylvania’s Chautauqua is a summertime haven for lifelong learners

Mariah the Scientist’s ‘Hearts Sold Separately’ mixes love potions and pensive emotions 7

Mariah the Scientist’s ‘Hearts Sold Separately’ mixes love potions and pensive emotions

Top News

Court finds Trump’s tariffs an illegal use of emergency power, but leaves them in place for now

Court finds Trump’s tariffs an illegal use of emergency power, but leaves them in place for now

Texas governor signs new voting maps pushed by Trump to gain five GOP seats in Congress in 2026

Texas governor signs new voting maps pushed by Trump to gain five GOP seats in Congress in 2026

Father of 8-year-old boy killed in Minneapolis church shooting wants him remembered for his love

Father of 8-year-old boy killed in Minneapolis church shooting wants him remembered for his love

Minneapolis, a series of shootings and the grim realities of a tough summer

Minneapolis, a series of shootings and the grim realities of a tough summer

  • Home
  • About Us
  • Facebook
  • Twitter
  • Instagram
  • Youtube
  • tiktok
Editor: Nur M Tofader, Office: 250 Park Avenue, 7th Floor, New York, NY 10177 & Tell: 718 893 0002 (Office), 7188441300, +1212 401 6266, e-mail: Info@millenniuamtv24.com, e-mail: Info@millenniuamnews24.com, Copyright © Millennium News 24/7 | DarkNews by AF themes.