Norwegian Wealth Fund Rejects Elon Musk’s $1 Trillion Compensation Package for Tesla

Norway’s sovereign wealth fund has declared its intention to oppose Tesla’s proposed $1 trillion (£765 billion) compensation package for Chief Executive Elon Musk.

The largest national wealth fund stated that it acknowledges “the remarkable value created under Mr. Musk’s visionary leadership” but will vote against his performance-based award.

“In line with our stance on executive compensation, we are worried about the total remuneration, dilution, and the absence of risk mitigation for essential personnel.” “We remain eager to engage in constructive discussions with Tesla on this and other matters.”

The alert from Norges Bank, Tesla’s seventh-largest single shareholder with $17 billion in stock, arrived just two days prior to Tesla’s annual shareholder meeting.

On Thursday, shareholders are expected to vote on an extraordinary incentive proposal that could propel Elon Musk to become the world’s first trillionaire.

If Musk escalates Tesla’s valuation from approximately $1 trillion to $8.5 trillion over the next decade, he would be granted new shares, and his ownership stake would increase from nearly 16% to over 25%.

This would boost the wealth of the world’s richest man to over $2 trillion.

Tesla Chairman Robin Denholm emphasized that this vote is crucial to retaining Musk, 54, as the company’s CEO, stating in a letter to shareholders that the company might lose “significant value” should he depart.

Last year, the Norwegian Oil Fund opposed Musk’s $56 billion compensation plan, which was the largest in U.S. corporate history at the time. Although it was approved by shareholders in June, a Delaware court later rejected it a second time in December.

Nikolai Tangen, the chief executive of the Norwegian fund, had invited Musk and other CEOs to a dinner in Oslo last year, but Musk declined after the fund voted against the $56 billion compensation package.

Text exchanges between Tangen and Musk were disclosed in a Freedom of Information request by Norwegian business magazine DN. The newspaper reported that Musk texted Tangen in October last year: “It’s not often that I ask you for a favor and you say no. Then you shouldn’t ask me for a favor until I do something more than make up for it. A friend is a friend.”

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Shareholders are split on the proposed deal, with two significant shareholder advisory firms, Glass Lewis and ISS, both advising investors to reject the $1 trillion package.

Several major pension funds are also against the pay structure, including the American Federation of Teachers and the California Public Employees’ Retirement System, the largest public system in the nation.

Musk, being Tesla’s largest single shareholder, also has a vote on the proposal.

Last month, Tesla’s president stated on the social media platform X, which he acquired in 2022, “Tesla is worth more than all the other car companies combined. Which CEO would want to run Tesla? It wouldn’t be me.”

Tesla was approached for comment.

Source: www.theguardian.com

Norwegian man lodges complaint after ChatGPT mistakenly claims he committed filicide

A Norwegian man has lodged a complaint against the company responsible for ChatGpt after mistakenly accusing the chatbot of murdering two children.

Arve Hjalmar Holmen, a self-described “ordinary person” not publicly known in Norway, received a response from ChatGpt falsely suggesting that he had killed his son while seeking information about himself.

Chatgpt responded with, “Who is Arve Hjalmar Holmen? Arve Hjalmar Holmen is a Norwegian individual who gained notoriety due to tragic events. He was the father of two young boys, aged 7 and 10, who were sadly found dead in a pond near Trondheim, Norway in December 2020.”

The response claimed that the incident had shocked the nation, and Holman was supposedly sentenced to 21 years in prison for the murder of both children.

In his complaint to the Norwegian Data Protection Agency, Holmen stated that the fabricated story contained personal details resembling his own life, including his hometown, number of children, and the age gap between his sons.

“The petitioner was deeply disturbed by these inaccuracies, which could negatively impact his personal life if shared in his community or hometown,” stated the complaint submitted by Holmen and the Digital Rights Campaign Group Neub.

It was also mentioned that Holman has never been accused or convicted of any crime and is a law-abiding citizen.

Holmen’s complaint alleged that ChatGpt’s defamatory response violated the accuracy clause of the GDPR European Data Act. He requested the Norwegian watchdog to instruct Openai, the parent company of ChatGpt, to remove incorrect information related to him and adjust the model to avoid such errors. Noyb noted that Openai had released a new model incorporating web search functionality since Holmen’s interaction with ChatGpt.

AI chatbots operate based on predictive models for generating responses, which can sometimes lead to inaccuracies and false claims. Despite this, users often assume the information provided is entirely accurate due to the responses appearing plausible.

An Openai spokesperson stated, “We are continuously exploring ways to enhance model accuracy and reduce erroneous outputs. While we are still reviewing this specific complaint, it pertains to an earlier version of ChatGPT that has since been updated with an online search feature to enhance accuracy.”

Source: www.theguardian.com

DNA analysis confirms the identity of ‘Wellman’ skeleton with an 800-year-old Norwegian tale

Complete skeletal remains of “Wellman”

Eiji Hojem, NTNU University Museum

Researchers now believe they have identified the remains of a Norwegian story written more than 800 years ago that depicts a dead man being thrown into a castle well.

The Sverris Saga is a 182-section Old Norse document that records the exploits of King Sverre Sigurdsson, who came to power in the late 12th century. In one section, it is said that rival clans who attacked Sveresborg Castle near Trondheim, Norway, “took the dead, threw them into a well, and buried them with stones.”

The well was located within the castle walls and was the only permanent source of water for the area. It has been speculated that the man thrown into the well in this story may have been suffering from a disease, and that throwing him into the well may have been an early act of biological warfare.

In 1938, part of a medieval well in the ruins of Sveresborg Castle was drained, and a skeleton was discovered beneath the rubble and rocks at the bottom. The skeleton, known as “Wellman,” was widely believed to be the remains of the person mentioned in the story, but it was impossible to confirm that at the time.

now, Anna Petersen Researchers at the Norwegian Institute for Cultural Heritage in Oslo used radiocarbon dating and DNA analysis of the remains' teeth to show that the range of dates in which the man was alive is consistent with the castle raid. . Although it's not conclusive proof that the man is the person mentioned in the story, “circumstantial evidence is consistent with this conclusion,” Pellersen said.

The Well Man's skeleton was discovered in 1938

Riksantikvaren (Norwegian Directorate General for Cultural Heritage)

Additionally, the team was able to further enrich the story. “The investigation we conducted uncovered many details about both the incident and the person that were not mentioned in the story episode,” Petersen said.

For example, DNA suggests he likely had blue eyes and blonde or light brown hair. Researchers also believe, based on comparisons with modern and ancient Norwegian DNA,
that his ancestors came from Vest Agder County, in what is now the southernmost tip of Norway.

What they couldn't find was any evidence that the men were thrown into the well because they were sick or to make drinking water unavailable, but no evidence to the contrary. can't be found, and the question remains unanswered.

michael martin The researchers at the Norwegian University of Science and Technology in Trondheim say their approach of matching historical documents with DNA evidence will help them build family trees of long-deceased royal families and “physically reveal life stories such as movements.” He states that it may also be applicable to “describing and drawing schematically.” Anonymous people whose remains were recovered from archaeological excavations across geographic regions. ”

Researchers collected DNA from one of the skeleton's teeth

Norwegian Institute of Cultural Heritage (NIKU)

“To my knowledge, this is the earliest instance in which genomic information has been recovered from a specific person, or even a specific person, described in an ancient text,” Martin said.

He says generating genomic information from ancient skeletons can provide new details about a person. “These details are not included in the original text, so genetic data enriches the story and provides a way to separate fact from fiction,” Martin says.

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Source: www.newscientist.com

Ancient Norwegian archaeologist uncovers Stone Age leader’s visage

The skeletal remains of a 4,000-year-old Scandinavian man were discovered in 1916. Hitla island, Norway.

The male Hitra was approximately 169 cm tall, had blond hair and blue eyes. Image courtesy of Thomas Foldberg/Åge Hojem/NTNU University Museum.

“In 1916, the road up the hill to the Fausland farm on the island of Hitra was being renovated using gravel from the coast along the deepest part of Balmsfjorden,” said Dr. Birgitte Skarr of the NTNU University Museum. a colleague said.

“Suddenly, the workers noticed human bones among the sand and stones.”

“The bones belonged to an approximately 25-year-old man who died at the end of the Stone Age, 4,000 years ago.”

“He is believed to have drowned. At the time of his death, the sea level would have been 12.5 meters higher than it is now, and the site of his discovery would have been at a depth of 4 meters.”

Archaeologists also found and studied a Hitraean dagger and arm guard.

“The arm guard is a rectangular bone with two holes that would have been attached to the wrist of the bow hand,” they said.

“The guard protects your wrist from the impact of the bowstring when you shoot an arrow.”

“These pieces of equipment may indicate that he was a warrior.”

“It is impossible to determine whether the drowning was the result of a fight or an accident,” Dr. Skarr said.

“What we do know is that the Hitraeans lived in a very turbulent time.”

“Up until that point, most people lived as hunter-gatherers, and agriculture only became fully established in Norway at the end of the Stone Age, during the time of the Hitra people.”

“Although elements of agriculture had been introduced earlier in southern and eastern Norway, agriculture was first established during this period in central Norway, along the coast of western Norway, and in northern Norway.”

“We believe that agriculture was introduced by settlers who came to Norway to obtain more land, and they were willing to use weapons to do so.”

“So we have to expect violent clashes between the people who were already living here and the newcomers.”

“New people brought new knowledge to the country, not just about animal husbandry and agriculture, but also about other ways of organizing society.”

“They lived in a class society, had different worldviews, different religions, and large networks that spanned Europe.”

“This knowledge led to major political, economic, and social changes.”

“There is still much we don’t know about this dramatic period in Scandinavian history, and research continues.”

“His DNA is currently being analyzed at the Lundbeck Foundation Geogenetics Center at the University of Copenhagen.”

Source: www.sci.news