Summary
Dutch pension fund Stichting Pensioenfonds ABP sold its $585 million Tesla stake over concerns about Elon Musk’s “controversial and exceptionally high” pay package and unspecified labor conditions.
ABP previously voted against Musk’s performance-based compensation, which has faced shareholder lawsuits and judicial scrutiny.
A Delaware judge recently invalidated the pay package, citing insufficient shareholder approval.
While Tesla’s Model Y remains popular in the Netherlands, European sales fell 15% in 2024.
ABP stated the divestment was not politically motivated despite Musk’s ties to the Trump administration.
The only reason to hold Tesla right now is political. Do you believe Musk can continue sucking Trump’s dick to profits? It’s plausible…
Their cars are trash in the global market. China is owning everyone in the EV market. Domestically, they’re not a bad buy used, but for their sticker price there’s much more compelling options out there. The cybertruck is one of the worst products in automotive history. It’ll be mentioned with the Pinto as far as engineering failures go.
Because it’s massively over-valued, the board is a bunch of Musky Bro-hoes (also sometimes family…) signing off whatever the fuck Musk says; while it’s being led by a Ketamine-addled Nazis with the emotional development of a child.
Why anyone still holds Tesla, is beyond me.
Some people truly believe in Musk and the brand. Those people are dipshits, but if you excluded dipshits from your market predictions, you would always be wrong.
But pension funds have a responsibility to go long, and while Tesla may rise or fall on Musk’s digital bowel movements, volatility is the problem.
