Tesla (TSLA) shareholders approved a pay plan that could make Tesla CEO Elon Musk the world’s first trillionaire, if he meets “ambitious goals” including expanding Tesla’s stock market valuation to $8.5T from around $1.4T, according to the New York Times’ Rebecca F. Elliott, Jack Ewing, and Reid J. Epstein. However, asked before the vote, Norges Bank Investment Management said it would vote against the pay package. “While we appreciate the significant value created under Mr. Musk’s visionary role, we are concerned about the total size of the award, dilution, and lack of mitigation of key person risk,” the firm said.
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