Tesla(US:TSLA) Business Insiderยท2025-01-13 05:27Tesla's Shareholder and Compensation Issues - Stichting Pensioenfonds ABP, one of Europe's largest pension funds, sold 2.8 million shares in Tesla due to disagreement with Elon Musk's pay package and concerns about labor conditions [1][4][5] - ABP, managing $552 billion, valued its Tesla stake at approximately $585 million before divestment [6] - ABP called Musk's compensation package "controversial and exceptionally high" and voted against it in June [4][7] Tesla's Legal and Shareholder Challenges - In 2018, Tesla's board and shareholders approved a performance-based compensation plan for Musk, but a shareholder lawsuit argued Musk influenced the board's decision through personal relationships [2] - In January 2024, a Delaware judge ruled to strike down Musk's compensation package, siding with a shareholder, as the stock option-based package could be worth tens of billions of dollars [2] - In June 2024, Tesla held a second vote where shareholders approved Musk's pay, but ABP voted against it [7] - A Delaware judge ruled again in November 2024 that Tesla's June shareholder vote was insufficient to pass the compensation package [7] Tesla's Market Performance and Sales Trends - Tesla's Model Y was the best-selling car in the Netherlands in 2024 [3] - Tesla's new car registrations in Europe from January to November 2024 fell over 15% compared to the same period in 2023 [3] - Tesla's market value is approximately $1.27 trillion, and its stock has risen about 74% in the past year [3] ABP's Divestment and Statement - ABP stated that the divestment was not politically motivated and emphasized, "we cannot and do not need to invest in everything" [6]