The CEO of Stichting Pensioenfonds (referred to as 'ABP'), one of the largest retirement funds in Europe, Harmen van Wijnen, stated in an interview on Monday that the fund has sold all the Stocks it held. $Meta Platforms (META.US)$ and $Alphabet-C (GOOG.US)$ He mentioned that these companies no longer meet the fund's governance standards.

ABP is the pension fund for employees of the Dutch government and educational institutions, managing 544 billion euros in Assets. ABP stated last year that it would reduce investments that have a significant climate impact while directing more funds to projects of companies that contribute to social and environmental improvements. The fund has sold its shares in major fossil fuel companies in recent years and has declined to invest in Tobacco and many Weapon manufacturers.

It is worth mentioning that ABP stated last month that it had completely liquidated its positions in the third quarter of last year.$Tesla (TSLA.US)$The Stocks are valued at $0.585 billion, one of the reasons being objections to the large compensation plan for Tesla CEO Elon Musk.

Like Tesla's stocks, ABP also sold its holdings of Meta and Alphabet stocks in the third quarter of last year. However, Harmen van Wijnen did not specify the exact timing and prices of the sales. Reportedly, as of the second quarter of 2024, the Alphabet and Meta stocks held by ABP were valued at 3 billion euros and 2 billion euros, respectively.

Harmen van Wijnen added that the sale of stocks in these USA Technology companies is unrelated to Trump’s election as President of the USA or the support he received from the CEOs of these Technology companies. ABP also stated last month that the sale of Tesla stocks is unrelated to Musk's role in USA politics.

It is reported that Musk donated at least $0.245 billion to Trump’s presidential campaign and related political action committees, publicly supporting Trump, and turned his platform X into a social media platform filled with "MAGA" themes. Meanwhile, Meta CEO Zuckerberg and Alphabet CEO Pichai donated $1 million each to Trump's inauguration committee.

Analysts believe that Musk's earlier comments on political affairs in several European countries—including publicly supporting far-right political forces—caused discontent in many European countries. Furthermore, American Technology giants including Meta and Alphabet urged Trump to intervene to avoid regulation from the EU, prompting ABP to choose to exit early to prevent conflicts of interest.

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Editor/rice