A native of Spring Hope, North Carolina, he played college football for the Wofford Terriers and was twice a Little All-America selection.

Richardson later became a businessman, operating a Hardee's location, founding Spartan Foods, and the CEO at Flagstar.

He later was the CEO of Flagstar, which was the sixth largest food service company in the United States, controlling 2,500 restaurants and providing jobs for 100,000 employees.

[6] The Panthers have represented not only Charlotte and North Carolina, but the surrounding region; the area has benefited from the franchise's success.

[7][8] Richardson was regarded as one of the most powerful NFL owners, alongside Jerry Jones of the Dallas Cowboys and Robert Kraft of the New England Patriots, respectively.

For instance, when he fired George Seifert after the 2001 season (in which the Panthers went 1–15), he went nine years before holding another press conference at which he took questions from the media—when he announced that John Fox's contract would not be renewed.

As Panthers majority owner, Richardson was said to be a "champion of diversity", with African-American Cam Newton as starting quarterback and Hispanic Ron Rivera as head coach.

[16] On December 17, 2017, Sports Illustrated reported that "at least four former Panthers employees have received 'significant' monetary settlements due to inappropriate workplace comments and conduct by owner Jerry Richardson, including sexually suggestive language and behavior, and on at least one occasion directing a racial slur at an African-American Panthers scout.

[16] Richardson was hospitalized in Charlotte at Carolinas Medical Center in early December 2008, one month after receiving a pacemaker.

[20] Richardson and businessman Hugh McColl purchased the naming rights to the University of North Carolina at Charlotte's football field in 2011.

[23][24] In 2016 he funded the Rosalind Sallenger Richardson Center for the Arts, in honor of his wife of over sixty years, on the Wofford College campus.

The gift is designated for the college's endowment with a focus on need-based financial scholarships and experiences for Wofford students.