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In 1938, Fay and his brother, Ernest Fay (1914–1986), founded Seabrook Shipyard, which built submarine chasers and rescue boats during World War II. After the war, Fay operated various businesses in Texas and Louisiana, including shipbuilding and his Bel Oil Corporation.<ref name=bio/>​
 
In 1938, Fay and his brother, Ernest Fay (1914–1986), founded Seabrook Shipyard, which built submarine chasers and rescue boats during World War II. After the war, Fay operated various businesses in Texas and Louisiana, including shipbuilding and his Bel Oil Corporation.<ref name=bio/>​
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By 1972, his [[petroleum]] interests included holdings in several states as well as [[Canada]] and [[New Zealand]]. He also had [[real estate]] interests in [[Nicaragua]] and the[Cayman Islands in the [[Caribbean Sea]]. At the time of his death, his business interests had diversified to include ranching, timber, marinas, and [[banking]].​<ref name=bio/>
 
By 1972, his [[petroleum]] interests included holdings in several states as well as [[Canada]] and [[New Zealand]]. He also had [[real estate]] interests in [[Nicaragua]] and the[Cayman Islands in the [[Caribbean Sea]]. At the time of his death, his business interests had diversified to include ranching, timber, marinas, and [[banking]].​<ref name=bio/>
 
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