Texas commercial real estate mogul Ross Perot Jr. says a CRE recession looks likely: ‘It’ll be years before we really understand the damage the pandemic did to the world’

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In the 1970s, Ross Perot Jr., who’s now chairman of the Perot Group and Hillwood, and his father bought and sold land. His father was, of course, Ross Perot, two-time presidential candidate and founder of Electronic Data Systems, and eventually, Perot Systems—deemed “the fastest richest Texan ever,” in 1968 by Fortune. 

Well into the 1980s after he’d been buying and selling land on his own, Perot Jr. founded Hillwood, a Dallas, Texas-based commercial and residential real estate development company. Following the savings and loan crisis, Perot says he “became a developer out of necessity.”