Summary
Dutch pension fund Stichting Pensioenfonds ABP sold its $585 million Tesla stake over concerns about Elon Musk’s “controversial and exceptionally high” pay package and unspecified labor conditions.
ABP previously voted against Musk’s performance-based compensation, which has faced shareholder lawsuits and judicial scrutiny.
A Delaware judge recently invalidated the pay package, citing insufficient shareholder approval.
While Tesla’s Model Y remains popular in the Netherlands, European sales fell 15% in 2024.
ABP stated the divestment was not politically motivated despite Musk’s ties to the Trump administration.
So someone bought it…
Of course someone bought it… it wouldn’t be worth anything if there weren’t any buyers.
maybe it’s someone like saudi sovereign fund, they like burning piles of cash on overhyped failures like when they gave money to softbank
Likely sock-puppets for oligarchs trying to prop up the stock value under the weight of sell-offs.
Yeah people from the Elon cult.