An Indian-origin tech boss is the highest-paid employee in the world with an annual income of Rs 17,500 crore. Jagdeep Singh, founder of QuantumScape, a leading electric vehicle (EV) battery company, earns Rs 48 crore every day — an amount greater than the annual revenue of many prominent companies — a Times of India report said.
His exceptional salary package includes stock options valued at approximately $2.3 billion.
Mr Singh holds a BTech degree from Stanford University and an MBA from the University of California, Berkeley. He began his career at well-known firms like HP (Hewlett-Packard) and Sun Microsystems, and later went on to found multiple startups, with one of his early ventures being AirSoft in 1992.
After over a decade of experience in various companies, Mr Singh founded QuantumScape in 2010, a company that has since focused on breakthrough innovations, particularly in battery technology.
QuantumScape is developing solid-state batteries for electric vehicles. These are different from traditional lithium-ion batteries because they don’t use liquid electrolytes. This makes them safer, allows for faster charging, and increases energy density. These improvements help solve key issues for electric vehicles (EVs), such as range anxiety and long charging times, making the batteries a better option for the future of EVs.
With support from investors like Bill Gates and Volkswagen, QuantumScape is shaping the future of transportation. Under Mr Singh’s leadership, Quantumscape is leading the way in EV battery technology.
On February 16, 2024, Mr Singh stepped down as QuantumScape’s CEO, handing over the reins to Siva Sivaram. Mr Sivaram had joined the company as President in September 2023. Jagdeep Singh still continues as Chairman of the Board. He is also the CEO of a “Stealth Startup”, as per his LinkedIn account.
