Tesla board faces Elon Musk’s mega pay package crucial vote on November 6; this major shareholder stands against it

The board of directors of US-based electric vehicle giant Tesla is on the verge of an important vote that will determine the fate of the mega salary package proposed for its billionaire founder and CEO Elon Musk.

Tesla Inc.’s board of directors will hold its shareholder meeting on Thursday, November 6, 2025, where investors will cast their final votes on whether to approve the $1 trillion pay package for Musk.

According to the news agency ReutersTesla shareholders will be given the option to either approve and pay Elon Musk up to $878 billion in shares of the company or risk the billionaire leaving the company.

Mint It was previously reported in September 2025 that Tesla’s board of directors proposed a $1 trillion compensation plan for Elon Musk based on Musk’s ability to achieve various operational goals as well as increase the company’s market value (M-Cap) to $8.5 trillion.

Elon Musk’s salary package structure

According to previous reports, Tesla’s board of directors plans to allocate Elon Musk up to 423.7 million performance-based limited shares of the company, accounting for almost 12% of the total outstanding shares.

The company also presented Musk with 12 market cap targets; these include a $2 trillion figure, followed by nine raises of $500 billion each, and finally two $1 trillion successes totaling $8.5 trillion at M-Cap over the next few years.

Which shareholder is against this?

Norway’s mega wealth fund Norges Bank Investment Management (NBIM) said on Tuesday, November 4, 2025 that they have already voted against Musk’s mega pay package, which will be decided on November 6, 2025.

Norges Bank said it was concerned about the dilution, as well as the lack of risk mitigation regarding the overall ‘size of the reward’ and the CEO’s compensation.

“Norges Bank Investment Management voted against Tesla Inc.’s proposal to approve the CEO Performance Award for Elon Musk. While we appreciate the significant value created under Mr. Musk’s visionary role, we are concerned about the overall size of the award, its dilution, and the lack of mitigation of key person risk – consistent with our views on executive compensation,” the shareholder filing said.

The Norway-based wealth fund also said it would continue to discuss this development and a number of other issues with Tesla.

Norges Bank Investment Management is a major shareholder of Tesla, and the organization holds a stake of approximately 1.12% in the US-based electric vehicle maker.

according to Reuters Nancy Tengler, CEO and chief investment officer of Tesla investor Laffer Tengler Investments, said she doesn’t care how much money Musk makes as long as he makes a lot of money from the company’s shares, according to the report.

“If the stock is going to go up sixfold — which is a requirement here — then I’m going to make a lot of money,” Tengler said.

Tesla shares traded at $450 at 8:31 a.m. (EDT) during the pre-market trading session on the U.S. exchange today, up 1.31% from $444.26 at the previous market close. Shares of the electric vehicle manufacturer will be the focus of attention of US stock market investors on Wednesday and Thursday, November 6, 2025.