Derik Fay’s Fun Facts: What you may not know about the entrepreneur

Derik Fay’s Fun Facts: What you may not know about the entrepreneur

While most people in his world didn’t even know what an  entrepreneur was, nor did he know that was exactly what he was becoming while growing up. The founder of a billion-dollar empire, Derik Fay, is now known as a prolific philanthropist, entrepreneur, venture capitalist, and investment mogul whose stream of wealth is challenging to comprehend . From his abusive childhood to today, it truly is a rags-to-riches story, here are some facts about Fay. 

He was born in Westerly Rhode Island on November 19, 1978 (age 43). 

Who would have guessed that this successful entrepreneur is in his early forties? Truly a testament that anything is achievable no matter how young you are. Born and raised in the smallest state in the country, Fay jokes he didn’t realize how small his home town was until he left and saw more of the world..

He piloted a decommissioned Russian Fighter Jet

In 2021 Fay boarded a Russian Fighter jet and took off over Tampa Bay where he broke the sound barrier and did barrel rolls, and strategic fighter jet maneuvers all after only a day of lessons. There was a seasoned pilot aboard, but Fay piloted the jet the entire time except takeoff and landing. When asked Fay said he had on one ear pod in his ear and was listening to the theme song to Top Gun!

He learned to drive at 11 years old

Fay learned to drive at 11 years old with his material Grandfather Sidney Handle in Charleston Rhode Island at the decommissioned air base in Charlestown. Fay remembers fondly his time with his maternal grandparents Sidney “Frank” and Marion Handle. Fay says “my grandfather was my best friend. He dropped out of school in the 5th grade to help support his family, became a marine, and then a master carpenter after the war. He may not of been considered a traditionally intelligent man, but he taught my life lessons that even today make me a man I am proud to be”

He spent school breaks in Fort Myers Florida visiting his paternal grand parents

Coming from the smallest state in the country when Fay visited his paternal Grandparents Jim and Janice Fay with his cousin Jeffrey Wright for school breaks in Fort Myers Florida, Fay now says it was what he described as “the greatest place in the world I had ever seen and I knew I was going to move there some day”. Fay recalls his grandmother Janice Fay loving to tell the story of her 10 year old grandson, Derik, telling her and anyone who would listen that “when I grow up, Im moving to Florida, and becoming a millionaire”. Later, his grandmother Janice Fay would recall this story to family and friends and end it by saying, “and then he grew up, and he did exactly that!”.

Derik does not need a solid education to build his empire

Fay is a college dropout. Before he founded his company, 3F Management, he attended the University of Rhode Island for only a single semester, before dropping out to chase his entrepreneurial dreams.   


As a sports fan, he had a great time at South Kingstown High school, graduating in 1997. He actively played for his high school baseball team, and many advanced leagues over his youth years. Always a fierce competitor, you can find traces of this competitive streak in his relentless pursuit of growth in business and all things he dives into. 

Fitness and bodybuilding

The gym is his second home. For over 20 years, he has been passionate about fitness, health, and bodybuilding, which he continues today. Derik says your mind and body are intimately connected and building a strong and physically fit body is indeed connected to a strong mind as well.

Derik is business partners with young daughters (13 ad 16 years old)

Fay has two beautiful daughters, Sophia and Isabella Fay whom he owns a company with at only 13 and 16 years old! They have been running Ritas Italian ice together for 3 years now. That’s right they have owned and operated their own company sine they were 10 and 13!

He has not given up on love!

Fay divorced twice now, has not given up! He is now deeply in love and living with his partner Shandra Phillips with is two Daugherts in Bonita Springs Florida.