Recent claims circulating online about Jagdeep Singh, the former CEO of QuantumScape, allegedly making ₹48 crore a day are completely inaccurate, as confirmed by official company records. A report from DNA India reveals that Singh stepped down from his CEO position in February 2024, giving up all compensation and forfeiting his stock options from the 2021 award program. His 2023 bonus in company shares was the final payout he received before moving to the role of Chairman of the Board.
SEC filings and statements from QuantumScape clarify that Singh is no longer part of any typical compensation plans. Dr. Siva Sivaram took over as CEO on February 15, 2024.
In conclusion, verified documents disprove these viral claims, confirming that Singh does not earn Rs 48 crore a day.
Read more on DNA India.
