Richard Fairbank

Richard Fairbank
Richard Fairbank
Born	September 18, 1950 (age 76); United States
Occupation(s)	Entrepreneur, CEO
Known for	Co-founder and CEO of Capital One

Richard Dana Fairbank (born September 18, 1950) is an American billionaire entrepreneur best known for co-founding Capital One alongside Nigel Morris in 1988. Between 2004 and 2006, he held a position on the board of MasterCard International. Additionally, Fairbank contributes as a member of the advisory council for the Stanford Business School, participates in the Financial Services Roundtable, and serves on the board of directors for the BITS Technology Forum.

His professional achievements have earned him numerous honors, including being named "Business Leader of the Year" by Washingtonian. He has also been recognized among the top 10 CEOs by Worth and listed among the "50 Best CEOs."

Education

Fairbank commenced his higher education at Pomona College before transferring to Stanford University, where he obtained a bachelor's degree in economics in 1972. He later earned an MBA from the Stanford Graduate School of Business in 1981, graduating at the top of his class. In recognition of his leadership, Stanford awarded him its Excellence in Leadership honor in 2006.

Career

Following graduation, Fairbank spent seven years working as a consultant with Strategic Planning Associates—later known as Mercer Management Consulting and now part of Oliver Wyman. He ultimately led SPA’s financial services division. In 1988, together with Nigel Morris, he initiated a data-driven credit card operation within Signet Bank, a small financial institution based in Virginia. This business unit was spun off in 1994, with Fairbank appointed as its CEO.

Compensation

In his role as CEO of Capital One Financial during 2009, Fairbank’s total earnings amounted to $6,076,805, largely derived from stock and option awards; notably, he did not receive a base salary or cash bonus that year. By 2012, his overall compensation had risen to $22.6 million. It is significant that Fairbank has voluntarily foregone a base salary since 1997.

With Capital One’s share price reaching record levels in January 2018, Fairbank’s net worth was estimated at approximately $1.1 billion.

Personal life

Fairbank lives with his wife Chris and their eight children at Overlook Farm, situated near Gunston Hall on Virginia’s Potomac River.

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