"It's not just a new chapter for Tesla; it's a new book." Elon Musk officially awarded $1 trillion pay package despite intense backlash: '[It's] pay for unchecked power, not pay for performance' first appeared on The Cool Down.

Tesla is looking at internal CEO candidates if Elon Musk leaves in case the $1 trillion pay plan is not passed at the annual shareholder meeting next week, Bloomberg News reported on Tuesday, citing the automaker's board chair.

Thursday, at its annual shareholder meeting, Tesla disclosed that investors voted to award Musk some 425 million incentive-laden shares.