A 1964 graduate of Mississippi State University, Peavey has been recognized by his alma mater as an Alumni Fellow and as the 2004 commencement speaker.
Since its foundation, Peavey Electronics has been privately owned, and has grown massively from their humble beginnings in Hartley's basement in the 1950s.
[1] Peavey wanted to participate so badly that he built a working amplifier from surplus parts, but he was not a particularly good musician.
In 1965 after graduating from Mississippi State,[1] he started his company with the idea of building the best product he could at a fair and reasonable price.
[1] Peavey eventually hired a part-time employee to help him, and his father realized that his son was serious enough to warrant the cosigning of his first loan of $17,000 to build his first factory.