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ABP Divests €571 Million Tesla Stake Over Elon Musk's $585 Million Pay Concerns in Q3 2024, Now Worth $1.1 Billion
Jan 12, 2025, 08:53 PM
The Dutch civil service pension fund ABP, Europe's largest pension fund, divested its entire stake in Tesla during the third quarter of 2024, citing concerns over Elon Musk's remuneration package. The fund sold its €571 million stake, which was valued at approximately $585 million at the time of sale. ABP's decision was influenced by a disagreement with Musk's compensation, which the fund deemed 'exceptionally high.' Since the divestment, Tesla's stock price has surged, and the value of the fund's former stake has increased to over $1.1 billion.
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