This Indian-origin CEO is world's highest-paid employee, earns ₹48cr daily
What's the story
Jagdeep Singh, the founder and former CEO of US-based QuantumScape, has been named the world's highest-paid employee.
His annual salary is an eye-watering ₹17,500 crore, which amounts to about ₹48 crore every single day, which is more than annual revenue of some of the large corporations.
The news highlights Singh's immense wealth and his place at the top of the global corporate ladder. He is a well-educated person with degrees from some of the world's best institutions.
Profile
Singh's educational background and early career
Singh has a bachelor's degree in computer science from the University of Maryland, an MBA from the University of California, Berkeley, Haas School of Business, and a master's degree in Computer Science from Stanford University.
He started his career at HP and Sun Microsystems before starting his own venture AirSoft in 1992.
Business ventures
Singh's entrepreneurial journey and QuantumScape's growth
After founding AirSoft, Singh started another company in 1998. His entrepreneurial journey continued with the establishment of QuantumScape in 2014.
Under his leadership, QuantumScape grew rapidly, which led to his massive salary package that reportedly included stock options worth potentially $2.3 billion.
Even though he stepped down as CEO in February 2024, he is still an integral part of the company's board.
Industry influence
QuantumScape's revolutionary impact on EV performance
QuantumScape focuses on next-generation solid-state batteries, an innovation that will revolutionize electric vehicle (EV) performance by making them more energy-efficient and reducing their charging time.
Singh's visionary leadership has put QuantumScape in the spotlight, making it a favorite of industry giants like Volkswagen and Bill Gates.
The company's mission to "revolutionize energy storage and power a decarbonized future" speaks for its commitment to sustainable transportation.