Why one of Europe's largest pension funds sold its entire $585 million stake in Tesla

www.businessinsider.com

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Why one of Europe's largest pension funds sold its entire $585 million stake in Tesla

www.businessinsider.com

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World NewsEnglish • 2 days ago

A Dutch pension fund sold its entire stake in Tesla over disapproval of CEO Elon Musk's pay package and working conditions at the company.

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.

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@NotMyOldRedditName
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I knew (but forgot) they thought the 1st one was likely and didn’t disclose it, was it others as well?
- @[email protected]
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  I forget the exact number, but it was the first few. Maybe 3?

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