Tesla's major shareholders vetoed Musk's trillion-dollar compensation plan.

The $1.9 trillion Norwegian sovereign wealth fund rejected Tesla CEO Elon Musk's $1 trillion compensation plan, becoming the first major investor to make a decision on the proposal. The fund expressed concerns on Tuesday about the size of the compensation plan: "While we appreciate Musk's visionary creation of immense value, we are concerned about the total size of the reward, dilution effects, and the lack of key person risk mitigation measures." On Thursday, Tesla will hold its annual shareholders' meeting and announce the voting results of several proposals, including Musk's compensation plan. According to the plan, if Musk increases Tesla's valuation to $8.5 trillion in the next 10 years, nearly 8 times the current valuation, he will receive an additional 12% stake in Tesla. At this level, the proposed reward value will be slightly over $1 trillion.