David Vélez

Career After Stanford, Vélez embarked on a career in finance. He worked in investment banking at Morgan Stanley and Goldman Sachs, gaining experience on Wall Street. He then transitioned into growth equity and venture capital, joining General Atlantic and later becoming a partner at Sequoia Capital. In 2011, Sequoia tasked him with establishing the firm's presence in Brazil. However, Sequoia's plan to expand in Brazil was shelved shortly (in part due to a shortage of local software engineers at the time).

By 2019 the startup had over 12 million customers in Brazil.

As of 2024, Nubank has become a leading digital bank in Latin America, serving over 100 million customers across Brazil, Mexico, and Colombia.

Net worth After Nubank's successful IPO in December 2021, Vélez became the richest person in Colombia, surpassing longtime leader Luis Carlos Sarmiento in Forbes' rankings. In the Forbes 2025 list, he was ranked 236th worldwide with an estimated net worth of US$10.7 billion.

In August 2024, Vélez sold approximately 31 million shares of Nu Holdings Inc. (the parent company of Nubank) valued at about US $404 million. He remains a shareholder with an approximately 20 percent stake. In January 2025, Vélez stated that Nubank is exploring expansion beyond Latin America, including a possible entry into the United States.

Personal life Vélez is married to Mariel Reyes Milk, a Peruvian-American entrepreneur. The couple has four children, the youngest born in 2022.

In August 2021, he and his wife signed the Giving Pledge, committing to donate the majority of their wealth to charitable causes during their lifetime. In 2022, the couple launched VelezReyes+, a philanthropic platform supporting the education, entrepreneurship, and social-impact projects across Latin America.

Awards In September 2024, the Congress of the Republic of Colombia honored him with the Simón Bolívar Order of Democracy, conferred at the rank of Grand Knight, in recognition of his entrepreneurial achievements.