Billionaire Profile

Global Rank

#148

Image: Public domain | via Wikimedia Commons

David Vélez & family

CEO, Nubank

Real-Time Net Worth

$16.8B

As of December 2025

Age

Source

Fintech

Industry

finance-investments

Citizenship

Biography

David Vélez, the Colombian-born founder and CEO of Nubank, is a prominent figure in the Fintech industry, known for revolutionizing banking in Latin America. Born in Medellín in 1981, Vélez's upbringing in an entrepreneurial family sparked his interest in business. He founded Nubank in 2013, with the mission of providing accessible and transparent financial services. Under his leadership, Nubank has become the world's largest digital bank by customer count, serving over 114 million customers across Brazil, Mexico, and Colombia. Vélez's net worth is estimated at $16.8 billion, making him a leading figure in the finance and investment sector. His career milestones include roles at Morgan Stanley, Goldman Sachs, General Atlantic, and Sequoia Capital before launching Nubank. Vélez, along with his wife, has also committed to philanthropy, pledging the majority of their wealth to charitable causes.

Wealth Over Time

Portfolio Holdings

Nu Holdings

In-Depth Profile

Early Life

David Vélez was born in Medellín, Colombia, in 1981. His family moved to Costa Rica when he was nine years old due to the violence in Colombia. Vélez's upbringing in an entrepreneurial family, with his father and many relatives running their own businesses, instilled in him a strong interest in business. He attended a German-language school and graduated as valedictorian. He then went on to study at Stanford University.

Rise to Success

After graduating from Stanford, Vélez embarked on a career in finance. He worked in investment banking at Morgan Stanley and Goldman Sachs. He transitioned into growth equity and venture capital, joining General Atlantic and later becoming a partner at Sequoia Capital. Sensing an opportunity in Brazil's banking sector, which was dominated by a few large banks charging high fees, David Vélez decided to build a new kind of online bank.

Key Business Strategies

Vélez co-founded Nubank in 2013. Nubank's strategy focused on providing accessible, transparent, and low-cost financial services to customers. The company expanded its product suite from a no-fee credit card to include digital banking accounts, personal loans, investments, and insurance. Nubank has focused on customer-centric products and services, which allowed them to gain rapid growth and customer satisfaction.

Philanthropy

Vélez and his wife, Mariel Reyes Milk, launched VelezReyes+, a philanthropic platform supporting education, entrepreneurship, and social-impact projects across Latin America. They have also signed the Giving Pledge, committing to donate the majority of their wealth to charitable causes during their lifetime.

Career Milestones

2005

Analyst

Began career in financial markets as an analyst at Goldman Sachs.

2013

Co-founded Nubank

Launched Nubank, a digital bank, with Cristina Junqueira and Edward Wible.

2021

Nubank IPO

Took Nubank public on the New York Stock Exchange, one of the largest fintech IPOs in history.

Philanthropy & Social Impact

Education & Social Impact

VelezReyes+

Undisclosed

A philanthropic platform focused on creating opportunities throughout Latin America.

General Philanthropy

Giving Pledge

Undisclosed

Committed to donating the majority of their wealth to charitable causes.

Business Philosophy & Leadership

Notable Quotes

"By prioritizing rapid customer growth, as well as increasing revenue per customer and optimizing our operational costs, we achieved exceptional results."

"We are still in our first moment in Colombia, and soon we will be able to continue expanding our portfolio. With the experience we have already gained in Brazil and Mexico, we still have plenty of room to grow in terms of customers and portfolio and to increasingly help simplify the lives of Colombians in a strategic and secure manner."

Leadership Principles

Customer-Centric Approach

Prioritizing customer satisfaction and providing accessible and transparent financial services.

Innovation

Challenging traditional banking practices and embracing technology to create a disruptive financial model.

Financial Inclusion

Expanding access to financial services for underserved populations.