Swedish pension fund AP7 has completely divested from Tesla shares, citing verified labor rights violations in the U.S. as the primary reason for its decision. Worth around $1.36 billion at the time of the sale, AP7 had engaged in discussions with Tesla for several years regarding these issues, but felt that inadequate measures had been taken by the automaker. Although some funds have reduced their holdings due to Elon Musk's political involvement, AP7 emphasized its focus on labor rights breaches rather than his free speech.
AP7 has decided to blacklist Tesla due to verified violations of labor rights in the United States. Despite several years of dialogue with Tesla, including shareholder proposals in collaboration with other investors, the company has not taken sufficient measures to address the issues.
Other pension and retirement funds have relinquished some of their Tesla holdings due to CEO Elon Musk's involvement in politics, among other reasons, and although the company's stock has been a great contributor to growth for many funds over the past decade, these managers are not willing to see past the CEO's right to free speech.
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