dives into the controversial $56 billion pay package approved for Tesla CEO Elon Musk. While the staggering compensation plan proves shareholders' confidence in Musk's leadership, the legal battles surrounding this decision are far from over.
And if you look back at the last vote, what we're going to be looking for today is, well, what of course, what is the result here?And in that case, you had 97 million disinterested shareholders saying yes, 23 million saying no.what is really the mandate for this pay package?Now, I don't know necessarily that if Elon Musk and Tesla have to relitigate this again and go up for a third vote and re propose if it doesn't pass muster here in Delaware.
It's on the autonomous side, which is the reason we anticipate that the stock will scale to 2600 in our base case.Uh in fact, the probability of autonomous has gone up dramatically here um because of breakthroughs in A I which Elon and his team are harnessing and this is a winner, take most opportunity.
Um I, I wanna dig more into autonomy, but first I wanna linger on the vote for a, a little bit more Kathy because what I'm curious about is, is Musk has been quite vocal of what he wants here.Um He has said that if the pay package didn't go through, although it seems like indications are it's going to go through.
Um I think what many people do not understand is uh Tesla is the largest A I project on Earth Autonomous mobility is the largest A I uh project. Uh autonomous mobility is three of the platforms, robotics, energy storage, and artificial intelligence, converging uh technologies that are going to create explosive growth.
And uh uh Elon epitomizes that right, in, in terms of A I in each of the projects, autonomous mobility here on earth and space uh and uh A I projects elsewhere.There are, there's A I uh uh they're harnessing A I there as well. If anything, the recent inflation data suggests interest rates will fall this year and the number of uh dot Plots is increasing once again, that should uh accrue to the benefit of our strategy.Uh The the the backup or the underperformance has had a lot to do with going from six interest rate cuts expected at the end of last year to at 1.0 or, or just one.
When uh when investors were seeking companies that they knew would not go bankrupt, big cash cushions, big cash flows uh much like now, much like now. And we had mentioned off air about how yes, there was no mention of the fact that in the proposal for Musk's pay package, for instance of, of whether they would condition him to bring those A IA I projects in house at Tesla that he wouldn't go elsewhere for them and things like that.
We're voting against what Tesla is requesting, but that's not an actual contest and, and they've created an environment here that is beyond the average shareholder meeting.Um So to, and to be clear and to give our viewers a bit of background, the last time you were in here talking to us Bruce, we were talking about Disney and Tryon and you were in fact working with Tryon on its quest against Disney.
Uh, there are unions, pensions, hedge, uh, sorry, unions and pensions and uh church and charitable group who said we're not going to be supportive.And that all makes sense. But the way his, his um enterprises are intertwined, I don't see him not putting some real priority into J Bruce.Well, coming up our special coverage of the Tesla shareholder meeting continues as we await the final vote on Elon Musk's pay package.The Tesla shareholder meeting is underway and one of the key proposals up for a vote is the company moving its incorporation from Delaware to Texas.
But because that's a business judgment, but giving money away is unrelated to the company, corporate purpose.And because if you don't, nobody invests or at least you don't get their capital. He hits his financial bogeys, he hits his financial targets and the judge steps in and strikes it down.Well, the judge found that there was no negotiation really between Musk and the board that the board was not independent of Musk.
At that point, she had to protect the minority and that's really critical, that's critical to our investment strategy.
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