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Billionaire Profile
Philip Fayer
Global Rank
#2494

Image: Public domain | via Wikimedia Commons

Philip Fayer

CEO, Nuvei
CA
Real-Time Net Worth
$1.46B
As of December 2025
Age
47
Source
Fintech
Industry
technology
Citizenship
CA

Biography

Philip Fayer is a Canadian entrepreneur and the founder, Chairman, and CEO of Nuvei, a leading Fintech company. With a current net worth of $1.46 billion, Fayer's wealth stems from his success in the payment processing industry. Fayer founded Nuvei (formerly Pivotal Payments) in 2003, and under his leadership, the company has become a global leader, processing transactions in over 150 currencies. His career has been marked by strategic acquisitions and a commitment to innovation. Nuvei went public in 2020, raising $700 million on the Toronto Stock Exchange. Fayer's leadership has been recognized with awards, including being named one of Canada's Top 40 Under 40™ and Ernst & Young Entrepreneur Of The Year ® for Québec.

Wealth Over Time

In-Depth Profile

Early Life

Philip Fayer was born in Montreal, Canada, and spent part of his childhood in Belgium and Israel. He lost his father at the age of 16. He attended Concordia University in Montreal, but did not complete his degree, leaving to pursue business opportunities.

Rise to Success

Fayer founded Pivotal Payments in 2003, which later became Nuvei. The company provided payment processing solutions for small and mid-sized businesses. Under Fayer's leadership, Nuvei expanded through acquisitions and organic growth, transforming into a global payment technology provider. The company's success led to significant investments, including an investment from Goldman Sachs in 2006. Nuvei went public in 2020 with a $6 billion valuation, raising $700 million, the largest tech IPO on the Toronto Stock Exchange at the time.

Key Business Strategies

Fayer's key strategies have included a focus on:

  • Strategic Acquisitions: Nuvei expanded its capabilities and market reach through acquisitions, including SafeCharge and Paya.
  • Technological Innovation: Nuvei has invested in technology to support payment processing in over 150 currencies and various payment methods.
  • Global Expansion: The company has expanded its operations to serve merchants across multiple continents.

Philanthropy

Through a foundation, Philip Fayer and his wife support charitable causes including youth unemployment and cancer research.

Career Milestones

2003

Founded Pivotal Payments

Founded the company that would become Nuvei, to make payment processing more accessible for small and mid-sized businesses.

2009

Canada's Top 40 Under 40™

Recognized as one of Canada's Top 40 Under 40™.

2019

Ernst & Young Entrepreneur Of The Year ®

Awarded the Ernst & Young Entrepreneur Of The Year ® for Québec in the FinTech category.

2020

Nuvei IPO

Nuvei went public, raising $700 million on the Toronto Stock Exchange.

2024

Nuvei taken Private

Fayer, Advent International and others took Nuvei private in a $6.3 billion deal.

Philanthropy & Social Impact

Youth

Youth Unemployment

Not Available

Supports initiatives related to youth unemployment

Health

Cancer Research

Not Available

Supports cancer research

Business Philosophy & Leadership

Notable Quotes

""Consumers everywhere expect instant access to their money, whether it is a payout, refund, or remittance,”""

Leadership Principles

Focus on Innovation

Embracing cutting-edge technology to provide payment solutions.

Customer-Centric Approach

Allowing customers to grow their business through our full stack of capabilities, both locally and globally.

Strategic Acquisitions

Expanding through strategic acquisitions.