Early Life
Richard Peery was born in 1938 or 1939. He is the son of Taylor Peery, who graduated from Stanford University and Stanford Business School. Richard holds a bachelor's degree from Brigham Young University and briefly attended Stanford's MBA program before dropping out to pursue business opportunities.
Rise to Success
In his 20s, Peery began managing his father's property portfolio. In the 1960s, he partnered with John Arrillaga, buying Silicon Valley farmland and transforming it into office parks. This partnership, known as Peery Arrillaga, became a major player in the Silicon Valley real estate market, developing over 12 million square feet of office space. In 2006, Peery and Arrillaga sold a large portion of their buildings for $1.1 billion.
Key Business Strategies
Peery's business acumen led to significant financial success. He focused on long-term ownership and disciplined management. His strategy included acquiring undervalued land in Silicon Valley and developing it speculatively to meet the growing demand from tech companies. Peery and Arrillaga built relationships with major tech companies, including Google, Apple, and Hewlett-Packard.
Philanthropy
Richard Peery is involved in philanthropy through the Peery Foundation, which supports social entrepreneurs. He and his sister endowed Brigham Young University with $3 million to establish the H. Taylor Peery Institute of Financial Services, named after their father. The Peery Foundation focuses on supporting initiatives in the San Francisco Bay Area and internationally.
