A Tesla logo is seen at a Tesla showroom in Shanghai, China January 7, 2019. REUTERS/Aly Song
OSLO / BOSTON (Reuters) -Norway's sovereign wealth fund, Tesla's sixth-largest outside investor, said on Tuesday it would vote against ratifying a proposed pay deal for CEO Elon Musk potentially worth $1 trillion.
Musk's pay package is still seen as likely to win, given broad investor support in the past and the backing Tesla enjoys from its large retail shareholder base. Laws in Texas, where Tesla moved its headquarters last year, allow Musk to vote his own large stake, giving him 15.3% of voting power including restricted stock granted in August.
