Elon Musk Tried to Pressure Norway’s Wealth Fund—A Major Tesla Shareholder—to Approve His Compensation Package
Posted: Jan 28, 2025
- Elon Musk tried to influence Norway's sovereign wealth fund to support his Tesla pay package
- The fund manages $1.8 trillion and holds a stake in Tesla
- Musk accused CEO Nicolai Tangen of leaking texts to the media
- Norwegian transparency laws required partial disclosure of texts
- The tension between Musk's desire for discretion and the fund's legal obligations
- Fund released all texts, emphasizes positive relationship with Tesla but opposes Musk's pay plan
- Elon Musk text messages released to CEO Nicolai Tangen by Norway's Wealth Fund
- Musk pressured Tangen on compensation package that the fund voted against
- Tangen invited Musk to investment conference, Musk declined
- Musk questions Tangen about sending messages to the press
- Norway has similar legislation to the American Freedom of Information Act
- Text messages previously kept secret, now released for transparency
- Messages related to relationship between the fund and Tesla, including voting against Musk's compensation package
- Nicolai Tangen not available for interview on the matter
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