His maternal grandparents were William Herbert, 1st Earl of Pembroke and Anne Devereux.
Richard succeeded their father as Earl of Kent but wound up heavily in debt, probably through gambling, and was forced to alienate most of his property.
A good part ended up in the crown's hands; historians disagree regarding what this says about the relationship of Henry VII of England with the aristocracy.
When Richard died childless, Henry inherited the title of Earl of Kent and what was left of the associated property.
Henry tried, with little success, to reacquire the property Richard had sold, and had to live as a modest gentleman, never formally taking title as earl.