Tesla CEO Elon Musk turned down an invitation from Nicolai Tangen, CEO of Norway’s sovereign wealth fund, Norges Bank Investment Management (NBIM), following the fund’s decision to vote against Musk’s $56 billion pay package at Tesla’s annual general meeting last June.
The fund, Tesla’s seventh-largest investor with a 0.95% stake valued at $6 billion as of June, cited concerns about the package’s size and structure.
Tangen had invited Musk to a one-day conference in Oslo in April, along with a private dinner at his residence. Musk declined in an October 14 iMessage, referring to the fund’s earlier voting decision and stating, “Friends are as friends do.”
Tangen replied, “Noted and fully understand. As a large shareholder we cheer for you. Good luck with everything.” The exchange, first reported by e24.no, was later published by NBIM, which cited heightened public interest in the matter.
A spokesperson for NBIM confirmed the dialogue referenced its voting record at Tesla. Tesla has not responded to requests for comment.
