Jagdeep Singh, the Indian-origin tech entrepreneur earning Rs 48 crore per day, has surpassed Sundar Pichai and Satya Nadella to become the highest-paid employee in the world. Previously, it was believed that Google CEO Sundar Pichai and Microsoft CEO Satya Nadella held this title. However, Singh, the founder of QuantumScape, an electric vehicle battery company, has now taken the lead with an astonishing daily income of Rs 48 crore.
The company was founded in 2010 and focuses on innovation in EV batteries. Specifically, it creates next-generation solid-state batteries, which are more energy-efficient and offer faster charging. This is a significant step in the future of sustainable transportation, and it is a technology that will help to make EVs a viable option for more people.
Singh himself is an impressive figure. He amassed over a decade of experience at tech giants like HP and Sun Microsystems before launching his first startup in 1992, AirSoft, showcasing his dedication to innovation. He also holds a BTech degree from the University of Maryland and a master’s from Stanford, proving his extensive technical knowledge. He is also a seasoned businessman, having established six companies.
His prestigious position at QuantumScape reflects the value the company places on his leadership. In fact, the company reportedly awarded Singh an annual compensation package of Rs 17,500 crore, which includes stock options worth $2.3 billion. This is far higher than the salary of other leading CEOs, including Hock Tan of Broadcom and Nikesh Arora of Palo Alto Networks.
The high-compensation deal is controversial, and it sparked opposition from some investors. Institutional Shareholder Services and Glass Lewis, two proxy advisers, have both expressed concerns about the size of Singh’s grant. Nevertheless, most QuantumScape shareholders approved the compensation package, which will likely be implemented in stages.
This news is more interesting because the salary is not tied to performance goals or benchmarks. It simply reflects the immense value that the company sees in Singh’s leadership and the impact of his work on the industry.
This is a significant milestone for Singh and indicates the increasing recognition of Indian-origin talent in the global technology and clean energy sectors. It is also a testament to the growing influence of Indian entrepreneurs in emerging sectors, and it proves that the right combination of vision, determination, and expertise can go a long way. As we progress in technology and clean energy, we will see more of these remarkable achievements from India and other developing nations. It is an exciting time to be alive, and we look forward to seeing what the future holds for all of us.