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.

  • themeatbridge@lemmy.worldEnglish
    44·
    6 days ago

    Some people truly believe in Musk and the brand. Those people are dipshits, but if you excluded dipshits from your market predictions, you would always be wrong.

    But pension funds have a responsibility to go long, and while Tesla may rise or fall on Musk’s digital bowel movements, volatility is the problem.