Indian CEO Jagdeep Singh, whose daily salary is Rs 48 crore, has surpassed Google's Sundar Pichai in daily earnings. In fact, Jagdeep's salary is 10 times more than Google's CEO. This has sparked curiosity about how much he earns and what he does to receive such a salary package.
Here's the explanation: Jagdeep Singh, co-founder of the American company QuantumScape, which develops solid-state rechargeable lithium-metal batteries for electric cars, has been making headlines for being the highest-paid co-founder. Singh's salary is so extraordinary that, when broken down into daily earnings, it amounts to Rs 48 crore, which totals a staggering Rs 17,500 crore annually.
What Singh Do To Earn A Staggering Salary Package
Jagdeep Singh, the founder of QuantumScape, established the company in 2010 with a vision to revolutionize the electric vehicle (EV) industry. QuantumScape specializes in creating cutting-edge solid-state batteries designed to dramatically improve EV energy efficiency and reduce charging times, paving the way for a more sustainable and convenient future. Backed by investors like Bill Gates and Volkswagen, who trust him, the company is poised to transform the electric vehicle sector and advance clean energy solutions.
Profile
According to various reports, Jagdeep Singh is an entrepreneur and businessperson who founded six companies, including QuantumScape Corp. and Infinera Corp. After completing his B.Tech and MBA from Stanford University and the University of California, Berkeley, he worked for over a decade in various companies, which equipped him with invaluable experience and technological breakthroughs. He also did M.S. in Computer Science, Stanford University. The Indian-origin executive also served on the Stanford Graduate School of Business Advisory Board from 2004 to 2006 according to The Economic Times.
He currently serves on the Policy Board of Energy Sciences Network. In 2010, he founded QuantumScape. Since 2010, Quantumscape has become the leader in the energy storage solutions for electric vehicles. He has worked with renowned companies such as Sun Microsystems and Ciena before laying the foundations of Quantumscape in 2010. Additionally, he has led several successful ventures like AirSoft and Infinera.
Net worth
Although Jagdeep Singh's total net worth is not in the public domain, Jagdeep Singh's exceptional salary package includes stock options valued at approximately $2.3 billion which is around Rs 20,000 crore. Jagdeep Singh's annual income is a staggering Rs 17,500 crore, which breaks down to an incredible Rs 48 crore per day.
On February 16, 2024, Singh stepped down as QuantumScape's CEO, handing over the reins to Siva Sivaram who 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.
Google CEO Sundar Pichai
Alphabet, Google's parent company, reported that CEO Sundar Pichai received a whopping compensation package of around $226 million (Rs 1,846 crore) in 2022. As of 2024, his net worth is estimated to be an impressive $1.66 billion (over Rs 14,000 crore).