In our article “Robert Pera 101: Who is the Successful Billionaire?” on Zatrun.com, we will delve into everything you need to know about the successful billionaire, Robert Pera that our readers are curious about in detail.
Who is Robert Pera?
Robert J. Pera, the founder of Ubiquiti Networks, Inc., took the global communications technology company public in 2011. In October 2012, Pera also became the owner of the National Basketball Association’s Memphis Grizzlies team. At the age of 36, Robert Pera was listed on Forbes’ list of the world’s youngest billionaires.
While still attending high school, Robert Pera founded his first computer services company, providing network and database services to local businesses. Pera also played on the high school basketball team, but had to take a year off due to a long-since resolved heart condition. After high school, Pera attended the University of California, San Diego, where he graduated Phi Beta Kappa from the Electrical Engineering department and earned a B.A. in Japanese Language. He stayed at UC San Diego and completed his graduate studies in Electrical Engineering, focusing on Digital Communications and Circuit Design.
After graduation, Pera, who admired Steve Jobs, found a job at Apple Inc. and tested the company’s Wi-Fi devices to ensure compliance with Federal Communications Commission standards. While working at Apple, Pera noticed that the power sources used by Wi-Fi devices to transmit signals were well below Federal Communications Commission limits. By increasing their power, he could increase their transmission range by dozens of miles, making it easier to access the internet in areas that were out of reach for phone and cable companies.
When his bosses at Apple ignored his idea, Pera decided to create his own low-cost, high-performance Wi-Fi module. The next year, Pera spent nights and weekends in his apartment testing prototypes. In early 2005, when he was ready to start his own business, he left Apple and founded Ubiquiti Networks.
In March 2005, Robert Pera used his personal savings and credit card debt of $30,000 to establish Ubiquiti Networks. Ubiquiti’s early products used existing Wi-Fi technology to provide wireless internet access to areas without traditional infrastructure for internet access, such as rural areas and developing markets like phone lines and cable lines. Since then, the company has successfully expanded into other product lines such as wireless access points, security cameras, and traditional network equipment like switches and routers.
Sources reported to ESPN.com on June 11, 2012, that Michael Heisley had reached a principle agreement to sell the Memphis Grizzlies to Robert Pera. The official sale of the Memphis Grizzlies was approved on October 25, 2012. In Pera’s first five seasons as team owner, the Grizzlies made the NBA playoffs, having already made it in the two seasons prior to Pera’s purchase. In his first year of ownership, the Grizzlies won a club-record 56 games and made their first appearance in the Western Conference Finals. During Pera’s first two years of ownership, the Grizzlies won more playoff games than in the previous 17 seasons. Pera is also a supporter of the Grizzlies Foundation, a sports charity based in Memphis.