R. Donahue Peebles facts for kids
Quick facts for kids
Don Peebles
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Roy Donahue Peebles
March 2, 1960 Washington, D.C., U.S.
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| Education | Rutgers University, New Brunswick (dropped out Freshman year) |
| Title | Founder, Chairman and CEO of the Peebles Corporation |
Roy Donahue "Don" Peebles (born March 2, 1960) is an American millionaire and a successful business leader in real estate. He is also an author and a well-known voice in the media and politics. Don Peebles started his own real estate company, The Peebles Corporation (TPC), in 1983. He is the founder, chairman, and CEO of this company.
Forbes magazine has recognized Peebles as one of the most successful African American CEOs. Many of his projects are built through special partnerships between private companies and the government. In 2009, Forbes named him among the top ten wealthiest Black Americans. By 2015, his wealth was estimated to be over $700 million. In the same year, Black Enterprise magazine called him one of the "Business Trailblazers and Titans of Black America," recognizing him as one of the 40 most powerful African Americans in business.
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Early Life and Education
Don Peebles was born in Washington, D.C. His mother was also a professional in real estate. When he was eight, he and his mother moved to Detroit, Michigan. At 13, they returned to D.C. There, he finished high school while working as a congressional page. This meant he helped out in the House of Representatives on Capitol Hill. During this time, he also worked as an intern and staff aide for members of Congress. He later attended Rutgers University in New Jersey, where he planned to study medicine.
Peebles has shared that helping his father, a car mechanic, when he was young taught him the importance of hard work. His grandfather also worked at the Washington Marriott Wardman Park Hotel in D.C.
Building a Real Estate Career
At 23, in 1983, Don Peebles started his own company. It focused on valuing homes and businesses. Later that year, Mayor Marion Barry appointed him to a city board that handled real estate tax appeals. The next year, Mayor Barry made him the chairperson of this board, where he served until 1988. In 1986, Peebles and his partners bought land for his first big real estate project.
In 1989, Peebles completed his first major building in D.C. This was done through a Public-Private Partnership (PPP). A PPP is when a private company works with the government to build something.
In 1990, he started another company, RDP Assessment Appeals Services. He kept buying and developing commercial buildings in Washington, D.C., often using PPPs. These included properties like 10 G Street NE and the Courtyard by Marriott Convention Center Hotel.
Developing Landmark Hotels
A big moment in his career came in 1996. Peebles won the right to develop the historic Royal Palm Hotel in Miami Beach. This was a very important deal because it made him the first African American to own and develop a major hotel in the U.S. He later sold The Royal Palm Hotel in 2004 for $127.5 million.
In 1999, Peebles bought The Bath Club, a very old and exclusive social club that opened in 1926. He had become the club's first Black member in 1996. Peebles built a luxury apartment building on the club's old parking lot and tennis courts, while keeping the historic clubhouse. This project was finished in 2005. The Bath Club property is huge, with five acres of land and three acres of beach. It also has event spaces, a spa, a fitness center, tennis courts, and a restaurant. After a big renovation in 2020, The Bath Club is still one of Miami's most exclusive clubs.
Overcoming Challenges
Like many big business leaders, Peebles has faced challenges. In 2010, his company was involved in a legal case about billing. Peebles believed these issues were related to politics. Most of the claims against him were dismissed by the court. The case was settled in 2012 for a much smaller amount than first asked.
He also worked on a large hotel project in Broward County, Florida. After four years of talks, he couldn't agree on terms with the county. He later filed a lawsuit, which was settled in 2012.
Another project in Miami, to redevelop the Overtown Gateway sites, was canceled. However, Peebles remained involved in the area. He helped build the CARE Elementary School in Overtown. He often speaks at the school and works with groups like the NBA to bring more support to this successful school.
Peebles has also proposed building the Affirmation Tower in New York City. This would be the tallest building in the Western Hemisphere. It is planned to be the first skyscraper built by a team mostly made up of Black developers and a Black contractor. He sees it as a symbol of equal opportunity in America. This project has received a lot of attention and support. In 2022, Peebles promised 50,000 square feet in the tower for Rev. Al Sharpton's planned National Civil Rights Museum. A home for the NAACP was also part of his plan.
Current Projects
Peebles has many ongoing development projects, often working with public-private partnerships. These include:
- 108 Leonard Street (also known as 346 Broadway) in Manhattan. This project, completed in 2020, turned a historic building into luxury apartments.
- Angels Landing in Los Angeles.
- Brooklyn Village in Charlotte, North Carolina. Work on this site began in September 2023. As the main developer, Peebles will build some parts and sell others to different developers.
He also has projects in different stages of development in Boston and Atlanta.
Awards and Recognitions
Don Peebles has received many awards for his work and leadership:
- Community Leader Award from Russell Simmons' RUSH Philanthropic
- "Trailblazer of the Year" by the Metropolitan Black Bar Association (2016)
- Named one of the "Top Ten of the wealthiest black Americans" by Forbes Magazine
- Recognized by Black Enterprise for "Greatest Moments in Black Business"
- Named one of the "Top 50 Black Leaders" by Black Entertainment Television
- Received honorary doctorates from Johnson & Wales University and Sojourner Douglass University
- TheGrio Business Icon Award
- New York City Mission Society "Champion of Children" Award
- CSQ 2019 Visionary of the Year Award
- "Company of the Year" by Black Enterprise Magazine
- "Business Trailblazers and Titans of Black America" by Black Enterprise Magazine
- Reginald F. Lewis Award for Entrepreneurship
- Corporate Citizen Award from One Hundred Black Men of New York
Giving Back and Leadership Roles
Don Peebles is very active in giving back to the community and serving on important boards:
- He was the Chairman of the Board for the Congressional Black Caucus Foundation.
- He was a board member for Florida International University.
- He founded the Entrepreneurship Academy at The Hospitality High School in Washington, D.C.
- He is a founding member of CARE Elementary in Miami, Florida.
- He is a founding member of the National Association of Hotel Owners, Operators and Developers.
- He is a founding member of the New York Real Estate Chamber (NYREC).
- He is a member of the Board of Visitors Industry Council.
- He is a member of the Board of YMCA of Greater New York.
- He is a member of the Real Estate Board of New York's Board of Governors.
- He was the Chairman of the Greater Miami Convention and Visitors Bureau.
Involvement in Politics
Peebles has been involved in politics since the 1970s. He helped raise money for President Bill Clinton's 1992 presidential campaign. He also joined President Clinton's Economic Summit that year and has hosted him at his homes. He was part of President Barack Obama's national finance committee for both his 2008 and 2012 election campaigns. Peebles hosted fundraisers for then-Senator Obama at The Bath Club in Miami Beach and later for President Obama at his home in Washington, D.C.
He has thought about running for mayor in Washington, Miami, and New York City. Many political and community leaders have encouraged him to do so.
From 2013 to 2017, he served on the board of directors for the Congressional Black Caucus Foundation. He became the chairperson in 2015 and was re-elected in 2016. Peebles is the only person who is not a member of Congress to have been elected to this important position.
Peebles often appears on TV news channels like CNN, Fox News, and CNBC. He discusses important topics like politics, the economy, and business. He strongly supports economic empowerment and helps small businesses and those owned by minorities. He and his wife, Katrina Peebles, have supported both major political parties in various elections.
Personal Life
Don Peebles moved to Miami, Florida, in 1998 and then to Coral Gables in 2001. He sold his Coral Gables house in 2021.
He currently lives in Miami Beach, Florida, Sag Harbor, New York, and New York City. He married his wife, Katrina, in 1992. Katrina used to work in public relations. She is now an interior designer and helps lead The Peebles Corporation as its creative director.
Peebles' son, Donahue, graduated from Columbia University. He now works at The Peebles Corporation, helping to lead the company's projects across the country. His daughter, Chloe, is a university student and a successful equestrian competitor.
Books by Don Peebles
Don Peebles has written books to share his business knowledge:
- The Peebles Principles: Tales and Tactics from an Entrepreneur's Life of Winning Deals, Succeeding in Business, and Creating a Fortune from Scratch. (2007)
- The Peebles Path to Real Estate Wealth: How to Make Money in Any Market. (2008)
