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Core Viewpoint - The rejection of Elon Musk's exorbitant compensation plan by Norway's sovereign wealth fund and a U.S. court highlights concerns over corporate governance and shareholder interests rather than a denial of Musk's contributions [1][4]. Group 1: Compensation Concerns - The proposed compensation plan required Musk to increase Tesla's market value to $8.5 trillion over the next decade, which is approximately eight times the current market value, potentially granting him stock worth about $1 trillion, equivalent to 12% of the company [4]. - Investors are worried that such a massive reward could significantly dilute the ownership stakes of other shareholders, leading to a decrease in stock value [4]. Group 2: Dependency on Key Individuals - There are concerns regarding Tesla's over-reliance on Musk, referred to as "key person risk," which poses significant uncertainty for the company's operations if Musk were unable to fully engage in his role [4]. - The chairman of Tesla indicated that if the compensation plan were not approved, Musk might consider leaving the company, underscoring the extent of the company's dependency on him [4]. Group 3: Decision-Making Process Issues - The U.S. court previously rejected Musk's $56 billion compensation plan due to procedural flaws, with opposition focusing on potential harm to other shareholders and a lack of fairness and transparency in the decision-making process [5]. - The board's lack of independence was highlighted, as several members had close personal ties with Musk, including long-term business relationships and personal connections [6]. - Insufficient information disclosure during the shareholder voting process led to decisions made without adequate understanding of the compensation plan's formulation, which the court deemed insufficient to rectify the initial procedural issues [6].