A Dutch pension fund sold its entire stake in Tesla, reportedly worth $585 million
www.businessinsider.com
A Dutch pension fund sold its stake in Tesla because it disapproved of Elon Musk's pay package and the company's working conditions, a report says.

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.

  • AuliEnglish
    33·
    2 days ago

    Ok their cars are trash no matter where they are. They have so many QC issues.

    • aim_at_me@lemmy.nzEnglish
      31·
      2 days ago

      Ironically, the international versions, made in China, are of a higher quality.