Early Life
Richard Peery was born in 1938 or 1939. His father, Taylor Peery, had a successful career in banking and real estate, which likely influenced Richard's career path. Richard holds a bachelor's degree from Brigham Young University but dropped out of the MBA program at Stanford.
Rise to Success
Peery started his career by managing his father's property portfolio in his 20s. He later teamed up with John Arrillaga in the 1960s, a pivotal partnership that led to the acquisition of Silicon Valley farmland. Together, they transformed this land into office parks, which are now home to major tech companies, including Google and Intuit. Peery and Arrillaga's success made them two of Silicon Valley's largest commercial landlords.
Key Business Strategies
Peery and Arrillaga focused on developing and managing high-quality office spaces. Their ability to acquire and develop land strategically in Silicon Valley, combined with a focus on long-term relationships and a disciplined approach to finances, was key to their success. They also sold a large portion of their real estate holdings for $1.1 billion in 2006.
Philanthropy
Richard Peery is actively involved in philanthropy through the Peery Foundation, which supports social entrepreneurs and organizations addressing poverty, particularly in the Bay Area. The foundation is currently run by his son, David Peery.
