Richard Derby, the founder of the Derby shipping empire, was born in 1712 to Richard (1679-1715) and Martha (Hasket) Derby. Before establishing himself as a merchant, Richard mastered the sloop Ranger from 1736 until 1738, the schooner Volant from 1741 until 1742, the sloop Jolly Bachus in 1743, and the schooner Exeter in 1745. He was also part owner of the Volant and Exeter. By 1746, Richard had begun importing cargo to Salem from London. He appears to have retired from the sea soon after, leaving his sons, Richard Jr. (1736-1781), John (1741-1812), and son-in-law, George Crowninshield, to captain his vessels. From 1750 until 1775, Richard owned at least twenty vessels and carried cargo on numerous other ships. His ships traveled to the West Indies, the Spanish peninsula, Canada, and South Carolina. They carried cargoes of fish, rum, timber, grains, sugar, cocoa, wine, coffee, and salt. At least five of Richard's ships engaged in fishing voyages, especially in the early years of his merchant business. While Richard's shipping business prospered greatly, he also experienced financial setbacks through the capture of his ships during the French and Indian War. By 1775, Richard appears to have completely relinquished control of the shipping business to his son, Elias Hasket Derby (1739-1799).

Richard's life did not solely revolve around his prosperous business. From 1756 until 1763, he served as a collector of excise taxes. He operated a distillery from 1760 until 1781. He served on the Massachusetts General Court from 1769 until 1773, was a member of the Governor's Council in 1774, 1776, and 1777, and was an ardent supporter of the Revolution. Richard married twice. His first wife, Mary Hodge (1713-1770), had six children: Richard Jr., Mary, Elias Hasket, John, Martha, and Sarah. In 1771, he married his second wife, Sarah (Langley) Hersey, the widow of Dr. Ezekiel Hersey. Richard died December 8, 1781.

Richard Derby Jr. was born on January 6, 1736 to Richard (1712-1783) and Mary (Hodge) Derby. As a young man he studied medicine, but ended up becoming a merchant. When his father retired from the sea after 1746, Richard (1736-1781) took over captaining some of his vessels. Richard was also a patriot, and during the Revolution took part on the Committee of Safety and Correspondence. He was also a representative to the General Court from 1769-1773; a counselor from 1774 to 1777; a delegate to the Provincial Congress from 1774 to 1775; and in 1778 he was appointed one of the state agents for prizes in the Middle District.

Richard was married twice. His first wife was Lydia Gardner whom he married on September 13, 1759. He and Lydia had eight children together: Richard, Samuel, Johnathan, Charles, Lydia, Mary, Elizabeth, and Thomas. He married his second wife, Lucy Smith, on March 5, 1778. Richard died in December 8, 1781 (Derby 154-167).