- cross-posted to:
- [email protected]
- world
- [email protected]
- cross-posted to:
- [email protected]
- world
- [email protected]
Summary
Dutch pension funds ABP and Bpf Bouw sold their Tesla shares, citing concerns over Elon Musk’s $56 billion bonus, which they deemed inconsistent with good governance.
ABP’s sale, worth $650 million at the time, sparked controversy, including criticism from Musk.
ABP defended the decision, emphasizing its long-term investment strategy and new policy to reduce its stock portfolio.
Other Dutch pension funds, while critical of Tesla’s governance, have retained their shares for now.
Tesla has faced broader ESG-related divestments from other Dutch funds over labor practices and governance issues.
You must log in or register to comment.
Not because the stock is grossly overvalued to begin with? Or even because its CEO is fully diving into being a Nazi?
ABP is the pension fund for, among others, the Dutch government. I don’t think they’ll openly call Elon Hitler all that quick, just to keep up good relations.
I don’t understand this legitimization of Elon. He has no formal US government appointment in any capacity. It’s all just been Trump informally saying he’ll head the Dept of Government Efficiency, which isn’t even a real government agency (only Congress has the power to create new agencies). So why care what Elon thinks? I guarantee that either, A) the Trump admin will throw him out eventually when he’s no longer useful, or B) he “quits” when he’s gotten whatever governmental protections for his companies that he’s inevitably seeking. Ugh, I hate billionaires.
A quote I heard once on this topic is that “money is power coupons”. Even if he’s not in the government, he’s got the money to influence it.
I’d imagine that’s just PR talk because they don’t want to tank the price while they’re still holding the bag.
It’s a good time to do it. Suckers have driven the massively overvalued stock back to where it was a year or two (or three?) ago.
