The Ripple Effect of Musk’s Pay Package: A Pension Fund’s Bold Move
In recent developments that have captured the financial world’s attention, Europe’s largest pension fund, Stichting Pensioenfonds ABP, made the decisive move to divest its entire stake in Tesla, which was valued at a substantial $585 million. Central to this decision was discontent with Tesla CEO Elon Musk’s controversial $56 billion pay package, a compensation plan that has been stirring debates both in boardrooms and courtrooms. Let’s delve into the intricacies of this situation and evaluate its broader implications.