Early Life
Richard Peery was born in 1938 or 1939. His father, Taylor Peery, had a successful career in banking and real estate, which laid the foundation for Richard's future endeavors. He earned a bachelor's degree from Brigham Young University. Although he dropped out of Stanford's MBA program, he gained valuable experience managing his father's property portfolio early in his career.
Rise to Success
Peery's career took a significant turn when he partnered with John Arrillaga in the 1960s. Together, they purchased Silicon Valley farmland, a visionary move that would transform the region. They developed the land into office parks, which today house giants like Google, Intuit, and others, solidifying Peery's position as a major player in the commercial real estate sector. In 2006 Peery and Arrillaga sold many of their buildings for $1.1 billion.
Key Business Strategies
Peery's success can be attributed to several key strategies. His early experience managing his father's properties provided a strong foundation. The partnership with Arrillaga was crucial, combining their talents and resources to capitalize on the growth of the tech industry. Furthermore, Peery's ability to identify promising land and his long-term vision for Silicon Valley were instrumental. He also focused on maintaining a strong financial position, with his real estate holdings estimated to be 3.3 million square feet.
Philanthropy
Richard Peery and his wife Mimi are actively involved in philanthropy through the Peery Foundation. This foundation supports various causes, including education, healthcare, and the arts, reflecting their commitment to giving back to the community.