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

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Norges Bank Investment Management,Sovereign Wealth Fund,Compensation 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...

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.

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 . 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.

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