Elon Musk on a roll, now clashes with the CEO of Norway's sovereign wealth fund; here are the messages they exchanged

Tesla CEO Elon Musk has clashed with one of Tesla’s top investors Nicolai Tangen, the CEO of Norway's sovereign wealth fund, as per a report.

Details of the clash between Musk and Tangen

The conflict arose after the fund decided to vote against Musk's $56 billion pay package at Tesla’s annual meeting last June, over concerns about its size and structure, reported Reuters.

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Following the vote, Tangen invited Musk to attend a conference in Oslo in April this year. Tangen also invited Musk for a home-cooked dinner at his residence which will take place a day before.

Musk declined the offer, expressing frustration in a message to Tangen on October 14, reported Reuters. Musk wrote that when he had previously asked for a favour and it was turned down, Tangen should not expect him to reciprocate any requests until some effort was made to mend the situation.

Musk said "Friends are as friends do," quoted Reuters.

Tangen acknowledged Musk’s feelings in his response. According to Reuters, Tangen cheered for Musk and reaffirmed the fund's support as a major shareholder of Tesla.

Who made the messages public?

The fund’s management body, Norges Bank Investment Management (NBIM), made the message exchanged between Musk and Tangen public. According to Reuters, NBIM is Tesla's seventh-largest investor and had a 0.95% stake worth $6 billion at the end of June.

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The fund shared the text messages due to the growing attention surrounding its voting decisions regarding Musk’s pay and other Tesla-related matters, as per the report.

This latest rift between Musk and the Norwegian fund adds to the series of public controversies that he has recently been involved in.

FAQs

Who is Nicolai Tangen?
Nicolai Tangen is the CEO of Norway's sovereign wealth fund and one of Tesla’s top investors.

Why did Elon Musk and Nicolai Tangen have a clash?
Elon Musk and Nicolai Tangen had a clash after Norway's sovereign wealth fund decided to vote against Musk's $56 billion pay package at Tesla’s annual meeting last June.