Europe's largest pension fund, the Dutch ABP, has sold its entire holding in Tesla. The sale, which was made during the third quarter, includes shares in the electric car giant for a value of 571 million euros.
The background is that ABP is questioning the massive compensation of 56 billion dollars, equivalent to over 600 billion Swedish kronor, which founder and CEO Elon Musk is to receive from the company. The twists and turns surrounding the compensation have been many, after receiving approval at the annual general meeting, a judge in the state of Delaware chose to stop it a couple of weeks ago.
ABP was one of the owners who voted no at the meeting, citing the reason that it was "controversial and exceptionally high".
