World’s Richest Man Asks for $1T More, Top Investor Says No

The world’s richest man, Elon Musk, is asking for a pay package that could make him the world’s first trillionaire, but one of his largest investors is saying “no.”
Norway’s sovereign wealth fund, the world’s largest, will vote against the $1 trillion compensation plan. The fund, which holds a $17 billion stake, said it was “concerned about the total size of the award.”
If the package is approved and targets are met, Musk’s stake would grow to over 25%, and his fortune would swell to over $2 trillion.
The fund’s rejection is a significant blow. It comes on top of “no” recommendations from influential advisory firms Glass Lewis and ISS and opposition from major US pension funds.
This is the second time the Norwegian fund has opposed a massive payout for Musk. It also voted against a $56 billion package last year, a move that led to a personal spat with the CEO.