Meet Jagdeep Singh: Indian-origin entrepreneur earning Rs 48 crore daily and Rs 17,500 crore annually
PTC Web Desk: Jagdeep Singh, Indian-origin founder of QuantumScape, a trailblasing electric vehicle (EV) battery company, has emerged as the highest-paid employee worldwide, with an annual income of Rs 17,500 crore, according to a report by The Times of India. Singh's daily earnings amount to a staggering Rs 48 crore—an amount surpassing the annual revenue of many established corporations.
His extraordinary salary package includes stock options valued at approximately $2.3 billion, as per the report.
A Stanford University graduate with a BTech degree and an MBA from the University of California, Berkeley, Jagdeep Singh has a rich history in the tech industry. He began his career at top firms like HP (Hewlett-Packard) and Sun Microsystems, before venturing into the startup world. His entrepreneurial journey began in 1992 with the establishment of AirSoft.
After gaining significant experience in the tech sector, Singh founded QuantumScape in 2010. The company has since revolutionised the electric vehicle battery space with its focus on solid-state batteries. Unlike traditional lithium-ion batteries, QuantumScape's innovative solid-state batteries do not rely on liquid electrolytes, providing a safer, faster-charging solution with higher energy density. These features address key challenges in electric vehicle technology, including long charging times and range anxiety, positioning the company for a key role in the future of EVs.
On February 16, 2024, Jagdeep Singh stepped down as CEO of QuantumScape, transitioning leadership to Siva Sivaram, who had joined the company as President in September 2023. Despite stepping down, Singh remains Chairman of the Board and is also leading a "Stealth Startup," as per his LinkedIn profile.
- With inputs from agencies