With a net worth of $ 5.2 billion, Colombian David Vélez, 39 years old and founder of Nubank, ranked 539th on the most recent list of millionaires in the Forbes Magazine.
(You may be interested in: The digital bank that enters the country with cards without administration costs’).
According to the publication, Vélez, born in Medellín (Antioquia) but domiciled in Sao Paulo (Brazil), has made his fortune in fintech (financial technology) and personal affairs.
He holds a Bachelor of Science from Stanford University and an MBA from Stanford University’s School of Business.
He is co-founder and CEO of the digital bank Nubank, based in Sao Paulo. Founded in 2013 and offering credit cards, checking accounts and life insurance, the entity is valued at $ 25,000 million and has 35 million customers in Brazil, Mexico and Colombia.
(In addition: Colombia, one of the countries in the region that would grow the most).
According to Forbes, Vélez – who left Colombia with his family 30 years ago to escape the violence unleashed by the country’s drug trade – began Nubank after realizing that five Brazilian banks controlled 80 percent of the market and charged their customers high fees for basic financial products.
Before Nubank, the Colombian worked in investment banking at Morgan Stanley, private equity at General Atlantic and venture capital at Sequoia.
On the Forbes list, Velez is second in a group of seven Colombian billionaires.
ECONOMY AND BUSINESS
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