In an interview, Marcy Frost, CEO of California Civil Service Retirement Fund (Calpers), stated that the fund plans to vote against Musk's $56 billion compensation plan, stating that it is "disproportionate to the company's performance." The fund is the largest state public pension fund in the United States, holding approximately 9.5 million Tesla shares and is one of the company's largest 30 investors. Musk responded on X, saying, "What she said is meaningless because all the contract milestones have been achieved.", Calpers is breaking his promise. "