Myth: Indian-origin CEO is world's highest paid person, earns INR 48 crore per day

Photo from: x.com/QuantumScapeCo

Jagdeep Singh, founder and ex-CEO of Quantumscape, has shattered global earning records with an annual salary of ₹17,500 crore ($2.06 billion).

That’s a jaw-dropping ₹48 crore per day, according to The Times of India.

But wait, we got insider news from a Quantumscape spokesperson who reached out to us and shared that Jagdeep Singh is not the highest-paid CEO as there's no real proof of that. Here's what he shared with us:

Here is the relevant excerpt from the 8-K (a legal document filed with the U.S. Securities and Exchange Commission, an independent federal agency responsible for regulating the securities markets and protecting investors from fraud and unfair practices): PDF link.

His massive earnings outpace the revenue of many corporations, cementing his legacy as an innovation pioneer.

Who is Jagdeep Singh?

Let's quickly learn more about the highest-paid CEO in the world:

•  Education: Degrees from the University of Maryland, Stanford, and UC Berkeley.
•  Career: Worked at HP and Sun Microsystems before founding startups like AirSoft.
•  Quantumscape: Founded in 2010, it’s leading the charge in EV battery innovation with solid-state technology.

Singh stepped down as CEO in 2024 but remains on Quantumscape’s board, now exploring new ventures with a “Stealth Startup.”

What is Quantumscape?

This US-based company is revolutionizing energy storage with solid-state batteries for EVs, offering faster charging, longer life, and enhanced safety.

Supported by major investors like Volkswagen, it’s driving us toward a sustainable, decarbonized future.

Jagdeep Singh’s story inspires entrepreneurs worldwide.