TheGrio’s 100: Don Peebles, college dropout crowned real-estate king
TheGrio's 100 - Raised by his single, teenage mother, Peebles vowed he would gain financial security for himself -- a promise that drove him to take an unconventional path to success...
Raised by his single, teenage mother, a young Don Peebles vowed he would gain financial security for himself — a promise that drove him to take an unconventional path to success.
Don Peebles dropped out of Rutgers University after his freshman year to pursue a real-estate opportunity in the form of a 100,000 square-foot office building in Washington, D.C. This investment led Peebles to others, enabling him to launch the Peebles Corporation, which he still owns and manages. The corporation is the largest African-American-owned real estate company in the U.S., with $4 billion development portfolio of luxury hotels, residential and commercial properties from California to Miami to D.C. And it has made Peebles, 50, one of the world’s wealthiest African-Americans, with a net worth of $350 million.
Don Peebles is making history … by sharing the knowledge he’s gained from his exceptional rise to the top. Peebles has penned two books which each outline how to achieve professional and personal success. Peebles also encourages young entrepreneurs to seek him out for advice or collaborative opportunities.
WATCH THEGRIO’S 100 DON PEEBLES ON CNBC HERE
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What’s next for Don?
The Peebles Corporation is launching real estate projects in Park Avenue, New York, San Francisco, California, as well as a $2.5 billion non-gaming hotel in Las Vegas, which will prove to be the largest project to be built by an African-American in the country.
In his own words …
“I enjoy breaking barriers. I enjoy doing things that people say I couldn’t do, or that someone like me couldn’t do,” said Peebles in an interview with Black Enterprise.
On black history …
“I celebrate black history by recognizing the sacrifices of those who came before me by knocking down the barriers and opening the doors of an equal opportunity, both civil rights and economic opportunities that I and my family and all of us in America benefit from,” Peebles told theGrio.
A little-known fact …
The Peebles Corporation owns the Royal Palm Resort in Miami Beach, Florida — the nation’s first resort owned and developed by an African-American.
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