Entrepreneur Derik Fay has a net worth that exceeds $250 million dollars, has built and sold countless major companies, is constantly developing and scaling more for eventual sale, donates millions of dollars annually to local charities, so we had to ask…. 

Who or what has been your most rewarding venture, and partnership?

Fay answered with large smile ” What a great question! The answer is easy. 

My most rewarding venture was my national 501c3 charity Around the Clock Caring ( www.aroundtheclockcaring.com).

I began this charity as a homage to an experiment that I did with a family member. I gave this person money, month after month, and all it did was drive them deeper into trouble each time. 

I decided to address the reason for the need, versus the need itself. Once I did that things changed quickly, and positively. I then took that formula and applied it to a nation wide program for homeless families with children.  

I decided to self fund this national program and began purchasing single family homes in the communities I was operating companies and placing

families in those homes. We provided housing, job placement, counseling, mentorship, and financial education to address the issues that caused the homelessness, and ensure if faced with similar situations, or temptations, that they would have the tools to handle them. To this day, meeting and mentoring these families remains one of the most rewarding ventures of my career thus far.

My most rewarding partnership….sorry to all my fortune 500 friends, private equity guys, hedge fund partners, and publicly traded companies Ive worked with. Without question my most rewarding partnership is the company I own with my daughters! 

We have co owned Ritas Italian ice for 3 years, since they were 10 and 13, now 13 (Isabella Fay) and 16 (SophiaFay).

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They have grown the one location into now two physical locations, one truck, and 4 mobile units, with net profits that near $500,000/ year and growing! As their father, and their partner, this is easily the most rewarding partnership of my life. I can’t wait to see how high my young lionesses will soar!

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