If Silicon Valley real estate billionaire John Arrillaga were starting out today, he knows where he’d invest – “the Bay Area for sure,” according to his son-in-law Marc Andreessen as quoted in a Fortune Magazine profile.
Arrillaga and his partner, Richard Peery, launched their real estate development business in the early 1960s with $2,000 (about $15,000 today) and some financing assistance from “others,” according to Fortune. They bought orchards and developed them with tilt-ups for the tech buyers they were confident would come.
Now Arrillaga spends half the week shuttling between 11 current projects he’s bankrolling at Stanford University, where he is a major donor.
Photo: Developers Richard Peery, left, and John Arrillaga in 2007. (Mercury News archives)