A graphic of Elon Musk with $100 bills falling around him.
  • Tesla won investor approval for Elon Musk's compensation, but it won't be reinstated just yet.
  • Musk's pay plan, initially approved in 2018, was voided by a Delaware judge in January.
  • Now, Tesla must take the issue back to the judge.

Tesla announced during its annual meeting on Thursday that it had won approval for Elon Musk's pay package after weeks of campaigning.

Musk was quick to celebrate the win: "Hot damn! I love you guys," he said.

At the event, Musk took to the stage to do a victory dance, but the company has only won its first battle.