Europe’s Largest Pension Fund Sold Tesla Stake Over Musk’s Pay

Elon Musk
Photographer: Samuel Corum/Bloomberg

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By Cagan Koc

January 12, 2025 at 8:43 PM UTC

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Europe’s largest pension fund sold its entire €571 million ($585 million) stake in Tesla Inc. in the third quarter partly due to disagreement with Elon Musk’s remuneration package.

“We had a problem” with Musk’s pay package, a spokesperson for Stichting Pensioenfonds ABP said by phone on Sunday. The fund also considered costs, return and responsible investment requirements in its decision to sell its investment.