Tesla falls as Norway wealth fund plans to reject $1 trln Musk pay package, China sales drop
ReutersNov 4, 2025 9:36 AM
Tesla TSLA.O falls 2.3% to $456.3 premarket
Norway's sovereign wealth fund, the world's largest and co's seventh-biggest owner with 1.12% stake worth $17 billion, to vote against Elon Musk's proposed $1 trillion pay package
Investors will decide on November 6 whether to approve package, likely largest-ever CEO compensation agreement
Norwegian fund also voted "no" to Musk's earlier compensation plan
Musk could leave co if deal is rejected, Tesla Chair Robyn Denholm warned last week
Tesla's largest institutional investors, including BlackRock, Vanguard and State Street, yet to disclose voting plans
Meanwhile, Tesla's China-made EV sales dropped 9.9% y/y to 61,497 units in October
As of last close, TSLA up 15.9% this year
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