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.
Set and setting matter a lot, as does intent going into things with the drug. Ketamine can offer perspective and help you become a better person, that doesn’t mean it always does.
When Elon Musk does drugs, do you think he goes into it looking for enlightenment, or looking to party?