Born in London, Ontario, Richard Ivey graduated from Ridley in 1943, earned his HBA at Western's Ivey Business School and his law degree at Osgoode Hall in 1950. A third-generation lawyer, he joined his father's firm, Ivey and Dowler, and was a partner from 1960 to 1980. Richard also served as President and then Chairman of Allpak Products, a family holding company for businesses primarily in the packaging industry throughout North America, as well as in Europe. Additionally, he served on many boards including Bank of Montreal, EllisDon, F.W. Woolworth Co. and Union Gas Ltd.
In 1947, Richard and his father incorporated the Ivey Foundation. It is the fifth oldest private family foundation in Canada, making charitable grants of $100 million since inception. Richard served as a director for 50 years and President for 30 years. He chaired the board of Western University and then served as Chancellor from 1980 to 1984, and in governance capacities with the Royal Ontario Museum, WWF Canada, St. Joseph's Hospital (London), Robarts Research Institute, The Wildfowl Trust (UK), and the World Wide Fund for Nature in Switzerland. He was named a Companion of the Order of Canada in 2000. Richard died, at age 94, on December 28, 2019 in Toronto.