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2026 Virginia Power 50 List: RICHARD FAIRBANK
CO-FOUNDER, CHAIRMAN AND CEO, CAPITAL ONE FINANCIAL, McLEAN
Virginia Business //March 1, 2026//
Photo courtesy Capital One Financial
Photo courtesy Capital One Financial
2026 Virginia Power 50 List: RICHARD FAIRBANK
CO-FOUNDER, CHAIRMAN AND CEO, CAPITAL ONE FINANCIAL, McLEAN
Virginia Business //March 1, 2026//
After earning an economics degree and an MBA from Stanford University, Fairbank landed at Virginia’s Signet Bank, where he co-created the business that became Capital One, the Fortune Global 500 credit card giant.
Fairbank became CEO in 1994 during Capital One’s initial public offering.
In May 2025, Capital One Financial completed its $35.3 billion acquisition of Discover Financial Services, finalizing the blockbuster merger of the credit card giants announced in 2024. In January, the company announced its upcoming $5.15 billion purchase of Salt Lake City-based fintech company Brex, which offers business credit cards and cash management accounts for tech companies.
In 2024, the bank reported $39.1 billion in revenue, a 6.3% increase over 2023. With $669 billion in assets as of Dec. 31, 2025, Capital One is the nation’s sixth largest bank, a jump from ninth in 2024. Fairbank famously does not accept a base salary, but he received a $30 million one-time award after the Discover acquisition.
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