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.
It doesn’t change the core being is my point. You can’t take an evil person and make them good with drugs, and you can’t take a good person and make them evil with drugs. They just amplify or shift perspective, but they don’t introduce anything from the outside into the person who uses them.