Europe's Largest Pension Fund Drops $585M Tesla Stake Over Musk's Mega Compensation
In a bold move, Stichting Pensioenfonds ABP, the largest pension fund in Europe, has divested its entire $585 million stake in Tesla during Q3 2024. Citing corporate governance concerns, particularly Elon Musk's $56 billion compensation package, ABP's decision reflects rising tensions between ESG principles and financial strategies. The timing coincided with Tesla hitting all-time stock highs post-2024 US election, missing significant potential gains.
Jan 17