Richard Fairbank – CEO of Capital One

Capital One is a well-known name in US retail banking, thanks to the vision of its Co-Founder, CEO, and Chairman – Richard Fairbank. As an entrepreneurial leader and innovator, he has transformed Capital One from a start-up to one of the top ten banks in America and one of the Fortune 100 companies in the country.

Mr. Fairbank has received many accolades for his leadership in the community and the industry, such as his 2006 award of “Banker of the Year” by the American Banker, his 2008 appointment to the President’s Council on Service and Civic Participation, and his 2015 recognition as “Best Strategic Thinker in Financial Services” by Bank Director Magazine.

Mr. Fairbank has also been ranked as one of the top “100 CEO Leaders In STEM” by STEMconnector and “Best-Performing CEOs in the World” by Harvard Business Review. You might be interested to learn more about Richard Fairbank. Here you will find everything you want to know about this popular figure.

Fast Facts About Richard Fairbank 

Early Life and Education

Born in California on September 18, 1950, Richard Dana Fairbank is the son of William M. Fairbank and Jane Davenport. He grew up with his two brothers, William M. Fairbank Jr and Robert Harold Fairbank, who both achieved success in their fields.

He was a brilliant student who attended a local high school in California before joining Pomona College. He then moved to Stanford University, where he earned a bachelor’s degree in economics in 1972. He continued his education at the Stanford Graduate School of Business, where he earned an MBA degree in 1981 and topped his class. He was also honored with the Excellence in Leadership Award by Stanford University in 2006.

Richard Fairbank Career Timeline & Current Position

Richard D. Fairbank and Nigel Morris founded Capital One Financial Corporation, a company that transformed the credit and banking sector in the US in the 1990s.

Fairbank has been leading the company as its Director and Chairman since 1994. He adopted a flexible management style in his early years at Capital One, which Jennifer Kingson Bloom called the “new age” in American Banker (September 9, 1998).

He offered stock options to his employees along with their salaries; senior executives also got most of their pay in stock options. This way of rewarding employees made them more invested in the company’s performance.

However, after the federal regulators probed the company’s lending methods in 2003, the compensation policy was revised, making Capital One more aligned with conventional banking norms.

Richard Fairbank’s Current Position

Awards, Achievements & Recognitions

• “Banker of the Year” Award by the American Banker in 2006
• Appointment to the President’s Council on Service and Civic Participation in 2008
• “Best Strategic Thinker in Financial Services” by Bank Director Magazine in 2015
• Ranked as one of the top “100 CEO Leaders In STEM” by STEMconnector
• “Best-Performing CEOs in the World” by Harvard Business Review

Richard Fairbank Family

Richard Fairbank and Chris Fairbank are a powerful couple who value their privacy. The successful entrepreneur and his spouse have built a large family of eight children.

Their kids are Carl, Brian, Melissa, Kristen, Sara, Ashley Anne, Michael, and John Fairbank. They rarely make public appearances or pose for the cameras, preferring to keep their personal lives private.

Richard Fairbank Lifestyle

Richard Fairbank is not only a billionaire businessman, but also a private and humble person. He is one of the long-standing CEOs of a company in the United States. He has also served on the board of directors of MasterCard International and other prestigious organizations.

Despite his wealth and success, he does not draw a salary from his company and prefers to avoid the limelight. His family lives at Overlook Farm near the Potomac River in Virginia, where they enjoy a peaceful and simple lifestyle.

Richard Fairbank Income and Earnings

As a CEO and Chairman of CAPITAL ONE FINANCIAL CORP, Richard D. Fairbank earned a whopping $27,599,849 in total compensation in 2022. The amount didn’t include salary or stock options.

Instead, he got a generous bonus of $4,250,000 and a huge stock award of $23,248,940. He also received $100,909 from other sources of income. This information is based on the proxy statements that were filed for the 2022 fiscal year.

Richard Fairbank’s Net Worth

Richard Fairbank is a billionaire with a net worth of at least $1.3 billion as of October 2023. He owns 3,891 units of Capital One stock, which are valued at more than $373 million. He has also earned over $112 million from selling COF stock in the past 17 years.

Richard Fairbank’s Current Holdings

Fairbank is an active trader of Capital One stock, having made over 420 trades since 2007, based on Form 4 filed with the SEC. His most recent trade was on August 14, 2023, when he exercised 3,891 units of COF stock worth $276,105.

His biggest trade ever was on November 9, 2016, when he exercised 873,024 units of Capital One stock worth over $59.6 million. He has traded about 24,127 units every 13 days on average since 2007. He still holds at least 3,852,297 units of Capital One stock as of October 2023.

Richard Fairbank Social Media Handles

Richard Fairbank is a billionaire and philanthropist who supports various causes. However, he is not very active on social media platforms. He does not have any official accounts on Twitter, Facebook, Instagram, or LinkedIn.

He prefers to keep a low profile and avoid the spotlight. He rarely gives interviews or makes public appearances. He is known for being media-shy and secretive about his personal life. He values his privacy and focuses on his work.

Interesting Facts About Richard Fairbank

• Fairbank loves to play hockey and is an avid hockey player.
• He has a large family with his wife Chris and their eight kids.
• He has not taken any salary since 1997, as he believes in reinvesting in his company.
• Richard Fairbank is very secretive about his personal life and family matters. He does not share much with the media or the public.
• He has a rich experience in the banking industry, having served as a Director at Mastercard Inc. in the past.

FAQs

How many Kids does Rich Fairbanks have?

Rich Fairbanks is a father of eight children with his wife Chris. They have a large and happy family.

Who is the CEO of Capital One?

Rich Fairbanks is the CEO of Capital One. He is also the co-founder, chairman, and president of the company. He has been leading it since 1994.

Where was Richard Fairbank Born?

Richard Fairbank was born in California in the year 1950. He grew up in a middle-class family and attended Stanford University.

How Rich is Rich Fairbank?

Rich Fairbank has a net worth of at least $1.3 billion as of October 2023, according to the sources. He owns millions of shares of Capital One stock and other assets.

How Old is Rich Fairbanks?

Rich Fairbanks is 73 years old as of October 2023. He was born on September 18, 1950. He is one of the oldest and most successful CEOs in the U.S.

How much does Capital One CEO Make?

Rich Fairbanks has not taken any salary from Capital One since 1997, as he believes in reinvesting in his company. However, he makes $7.7 million annually from other forms of compensation, such as stock options and bonuses.