Are Richard Peery and John Paulson connected? We found no public record of a business partnership, a shared company, or a joint deal between them. They are both billionaires, but they made their money in very different ways.
Richard Peery builds and owns office buildings in Silicon Valley. John Paulson ran a hedge fund and now manages his own money. Peery’s long-time partner was a different man, John Arrillaga. This article clears up that mix-up and shows how the two men compare.
Every number below comes from a named source. Where a figure is old, we say so.
Richard Peery and John Paulson at a Glance
| Richard Peery | John Paulson | |
|---|---|---|
| Known for | Silicon Valley office parks | A big bet against the housing market in 2007 |
| Home | Palo Alto, California | New York |
| Firm | Peery Arrillaga (the family business began as Peery & Co. in 1957) | Paulson & Co., founded in 1994 |
| Education | Bachelor’s degree from Brigham Young University (BYU); left the Stanford MBA program | NYU; MBA from Harvard Business School, 1980 |
| Main source of wealth | Real estate | Hedge funds |
| Net worth (Forbes) | $3.6 billion in 2024, No. 374 on the Forbes 400 | $12.3 billion on the 2026 Forbes 400 (No. 110) |
Sources: Forbes profile of Richard Peery, Forbes profile of John Paulson, BYU Marriott School, and Bisnow.
The Peery figure is from 2024, the latest one we could confirm. Check his Forbes page for a newer number.
Are Richard Peery and John Paulson Connected?
Business Connections: What the Records Show
We checked the Forbes profiles of both men, news reports, and the stories about their firms. Neither man’s profile names the other. Peery’s business story centers on John Arrillaga. Paulson’s centers on Paulson & Co.
We cannot prove the two never met. We can say that no public record shows a partnership, a joint company, or a shared deal.
Education and Professional Networks
Their paths split early. Peery earned a degree at BYU and then left the Stanford MBA program, according to Bisnow. He went to work in his family’s property business.
Paulson studied at NYU and earned an MBA at Harvard in 1980. Forbes says he then worked at Boston Consulting Group and Bear Stearns before he started his own firm.
They went to different schools and worked in different fields. We found no shared school, employer, or board.
Why Are They Compared Online?
Both men appear on the Forbes 400, the list of the richest Americans. Both built big fortunes without a famous tech company. Readers like to compare how different people got rich, and these two make a clear contrast: buildings versus markets.
One more point may confuse. John Arrillaga, Peery’s partner, shares a first name with John Paulson. They are two different men. Arrillaga died in January 2022.
Richard Peery vs. John Paulson: Wealth, Background and Investment Philosophy
Peery holds property for a long time. Paulson looks for market mistakes and acts when he sees one. The two styles lead to very different stories.
Richard Peery’s Silicon Valley Real Estate Legacy
Peery grew up in a business family. His father, H. Taylor Peery, was a vice president at the nation’s largest bank in the 1940s, BYU’s Peery Institute says. The family’s real estate company began as Peery & Co. in 1957. Today it is known as Peery/Arrillaga.
Forbes reports that Peery started managing his father’s property in his 20s. Forbes magazine also reported that, as a boy, he owned every gumball machine on the Stanford campus. Bisnow adds that he once ran a mini-golf course as a teenager.
In the 1960s, Peery joined John Arrillaga. Together they bought farmland in Silicon Valley and turned it into office parks, per Forbes.
John Paulson’s Rise in the Hedge Fund Industry
Paulson was born in Queens, New York. Forbes notes that he worked at Boston Consulting Group and Bear Stearns. He then founded Paulson & Co. in 1994.
His fame came later. Reuters wrote that his bet against the housing market a decade before 2020 made him an industry star.
Richard Peery and John Paulson Net Worth Comparison
Paulson: Forbes put his fortune at $12.3 billion on the 2026 Forbes 400, released on September 15, 2026. That is up from about $4 billion a year earlier, as reported by the Palm Beach Daily News. The Forbes real-time figure showed $11 billion on November 5, 2026.
Peery: Forbes listed him at $3.6 billion in 2024, No. 374 on the Forbes 400, according to Wikipedia’s summary of Forbes.
Net worth figures change often. Always check the date next to a number.
How Richard Peery and John Paulson Built Their Fortunes
Peery Arrillaga and the Silicon Valley Property Strategy
The plan was simple. Buy land cheaply, wait for businesses to arrive, then build offices for them. Land that was once farmland became office space for growing companies.
The San Francisco Examiner reports that the pair bought thousands of acres of farmland. Both men became billionaires as the land gained value.
In 2006, they sold a large part of their portfolio for $1.1 billion, according to Bisnow. Fortune adds that the buyer was Deutsche Bank and that the sale covered slightly less than half of their buildings.
Paulson & Co. and the Subprime Mortgage Trade
Before 2008, many banks held bonds tied to home loans. Paulson believed those bonds were too risky. He placed bets that they would lose value. When the housing market fell, his bets paid off.
Forbes, as summarized on Wikipedia, says he earned almost $4 billion in 2007. In 2010 he earned $4.9 billion, mostly from gold investments.
His luck did not last. In 2011 he lost money on Bank of America, Citigroup, and a Chinese company named Sino-Forest, according to the same Forbes-based summary.
Long-Term Property Ownership vs. Market Opportunities
Peery’s fortune grew as land values grew over decades. Paulson’s fortune grew in a few big jumps, then shrank in some years.
Bloomberg reported that Paulson’s firm managed $38 billion at its peak in 2011. Reuters reported that it managed $10.7 billion at the start of 2020. Property income tends to move more slowly than market bets. Public records are too thin to compare Peery’s yearly results.
Richard Peery and John Paulson: Key Events Timeline
| Year | Event | Source |
|---|---|---|
| 1957 | Peery & Co. begins | BYU Marriott School |
| 1960s | Peery and Arrillaga buy farmland for office parks | Forbes |
| 1994 | Paulson founds Paulson & Co. | Forbes |
| 2006 | Peery and Arrillaga sell many buildings for $1.1 billion | Bisnow |
| 2007 | Paulson earns almost $4 billion from his housing bet | Forbes, via Wikipedia |
| 2010 | Paulson earns $4.9 billion, mostly from gold | Forbes, via Wikipedia |
| 2012 | Paulson gives $100 million to the Central Park Conservancy | Harvard Magazine |
| 2015 | Paulson gives $400 million to Harvard engineering | Harvard Magazine |
| July 2020 | Paulson turns his firm into a family office | Reuters |
| January 2022 | John Arrillaga dies | Stanford Daily |
| September 2026 | Paulson’s Forbes 400 net worth reaches $12.3 billion | Palm Beach Daily News |
Their Investment Portfolios and Business Interests
Richard Peery’s Commercial Real Estate Holdings
Peery’s firm is private, so it shares little. Forbes has reported that he owns about 3.3 million square feet of office space, with tenants such as Intuit. The date of that count is unclear, so treat it as a rough guide.
The official site of the business is Peery Arrillaga.
John Paulson’s Investments in Gold, Healthcare and Financial Markets
Gold is his best-known interest. Kitco News reported in July 2026 that NovaGold agreed to buy Paulson’s 40% stake in the Donlin gold project in an all-share deal. Paulson told CNBC that gold is still in the early stage of a long rise. He said early-stage gold stocks are the best way to invest in it.
His stock holdings reach beyond gold. A GuruFocus review of his second-quarter 2026 filing says his holdings sit mainly in healthcare, basic materials, financial services, technology, and communication services. The same review says he sold all his shares of Agnico Eagle Mines in that quarter.
Real Estate Assets vs. Hedge Fund Investments
Buildings take time to sell. Stocks and funds can be sold quickly. That difference shaped both stories. Peery kept most of his buildings and sold a large part in 2006. Paulson ended outside funds in 2020 after clients pulled money out, as Reuters reported.
How Their Wealth Performs During Economic Changes
Property Income and Silicon Valley Market Conditions
Peery’s tenants pay rent. That income can hold up when markets fall. We cannot say how his firm did in each downturn because it shares no yearly results.
The 2006 sale came about two years before the 2008 financial crisis. We found no source that explains why the two partners chose that timing, so we do not conclude.
John Paulson’s Hedge Fund Performance Over Time
His results varied a lot. Forbes-based reports describe a record year in 2010 and losses in 2011. Bloomberg reported that assets at his firm fell by $6 billion from the end of 2015 because of losses and client withdrawals. Reuters said his performance had been mixed before he shut the firm to outside money.
Liquidity, Debt and Long-Term Wealth Preservation
We found no public data on Peery’s debt or cash levels. Private firms do not have to share them.
For Paulson, the picture is clearer. Since 2020 his firm manages only his own money. That means he no longer faces client withdrawals, as Reuters explained.
Richard Peery and John Paulson’s Philanthropy
Richard Peery’s Foundation and Community Contributions
Peery founded the Peery Foundation in 1978. Its mission is to help young people and families build lives of dignity and self-reliance. The family runs it, and his son Dave Peery serves as president. Past grantees include the East Palo Alto Charter School, according to Inside Philanthropy.
Its 2024 tax filing shows $2.9 million in grants across six gifts, based on a Grantable summary of the IRS Form 990-PF. Palo Alto Online reported in 2013 that the family gave anonymously toward new gyms at Palo Alto High School.
BYU’s Peery Institute also keeps a life sketch of his father.
John Paulson’s Major Educational and Cultural Donations
- 2012: $100 million to the Central Park Conservancy, according to Harvard Magazine.
- 2015: $400 million to Harvard’s engineering school, the largest gift in Harvard’s history at that time. The school now carries his name.
- NYU: Forbes says he has given $100 million to his undergraduate school.
- 2021 and 2023: $15 million to the Tel Aviv Museum of Art and $27 million to a Hebrew University building, according to Inside Philanthropy.
Their Different Approaches to Giving
Peery gives smaller, general-purpose grants, mostly to Bay Area families and children. His son has said his father prefers private giving, according to Palo Alto Online. Paulson gives fewer, larger gifts, and some carry his name.
Key Differences Between Richard Peery and John Paulson
Long-Term Asset Ownership vs. Market Opportunities
Peery owned land and buildings for decades. Paulson acted when markets mispriced something. One path rewards patience. The other rewards timing.
Risk Management and Investment Strategies
Property risk comes from empty buildings and falling land values. Hedge fund risk comes from wrong bets, as Paulson’s 2011 losses show. Neither path removes risk.
Wealth Creation vs. Wealth Preservation
Peery’s partners sold a large part of their portfolio in 2006 and kept the rest. Paulson ended his outside funds in 2020 and kept managing his own wealth. Both moves shifted from growing wealth to protecting it.
Final Word
Richard Peery and John Paulson are not business partners, as far as public records show. Peery built wealth by holding land and offices in Silicon Valley. Paulson built wealth by spotting mistakes in markets, including the housing bet that made his name.
When you read about them, check the year on every net worth figure. The numbers change, and the stories behind them stay far apart.
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