Reported 1 day ago
Europe's largest pension fund, Stichting Pensioenfonds ABP, sold its entire stake in Tesla during Q3 due to concerns over CEO Elon Musk's controversial $56 billion pay package and other investment criteria. The sale, worth approximately $585 million, occurred before Tesla's stock soared after the 2024 election, raising questions about the fund's timing and potential future losses. ABP had previously voted against Musk's pay package, citing its excessive nature, and the controversy around the package continues as Tesla navigates ongoing legal challenges.
Source: YAHOO