Protest over chief executive Elon Musk’s pay package, Dutch newspaper Het Financieele Dagblad reported Friday.
A report states that Europe’s largest pension fund sold off 2.8 million shares of the American electric vehicle manufacturer due to dissatisfaction with the $56 billion compensation package received by its head, Musk, and the poor working conditions at the company.
The report mentioned that the selection was not driven by politics. It was noted that Elon Musk will lead the proposed Department of Government Efficiency under the upcoming administration of incoming U.S. President-elect Donald Trump.
Elon Musk’s multinational billion dollar compensation package is being approved for the second time. Musk’s lawyers have tried to reverse the original decision from when shareholders voted in favor of the figure back in June 2024 twice now.
The board was under the control or influence of Musk.
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