US pension fund calls Tesla CEO’s compensation ‘exorbitant’

  • California Public Employees’ Retirement System (CalPERS) opposes Elon Musk’s $56 billion pay package
  • Musk’s compensation is considered excessive and not tied to Tesla’s long-term profitability
  • Tesla shares have fallen by more than half from their peak in 2021
  • The vote on Musk’s pay package is advisory only, but a defeat would be embarrassing for the CEO and the company

The California Public Employees’ Retirement System (CalPERS) has officially come out against Elon Musk’s $56 billion pay package, stating that it is excessive and not tied to the long-term profitability of Tesla. The vote on Thursday at Tesla’s annual meeting is advisory only, but a defeat would be an embarrassment for Musk and the EV maker. Tesla shares have fallen by more than half from their peak in 2021.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about CalPERS’ stance on Elon Musk’s pay package, citing specific reasons for their opposition and mentioning other funds and proxy advisers who also oppose it. It also gives relevant details about Tesla’s shareholder meeting and the re-election of board members, as well as the company’s relocation to Texas.
Noise Level: 6
Noise Justification: The article provides relevant information about CalPERS’ opposition to Elon Musk’s pay package and mentions Tesla’s shareholder meeting, but it lacks in-depth analysis or new insights. It also includes some repetitive information and could benefit from more evidence supporting its claims.
Public Companies: Tesla Inc. (TSLA)
Key People: Elon Musk (Chief Executive), Marcie Frost (Chief Executive of CalPERS), James Murdoch (Board Member), Kimbal Musk (Board Member, Elon Musk’s brother)

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Financial Relevance: Yes
Financial Markets Impacted: Tesla (TSLA) and S&P 500 index
Financial Rating Justification: The article discusses Tesla’s CEO Elon Musk’s $56 billion pay package, which is opposed by the California Public Employees’ Retirement System (CalPERS), impacting Tesla’s shareholders and potentially affecting its stock performance. It also mentions Tesla’s annual meeting and other related issues that could influence the company’s financial situation.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.

Reported publicly: www.marketwatch.com