GRAYSON COUNTY, Tex. (KXII)- At the time of his death, Perot owned nearly 10 acres of property in Grayson County next to the lake.
After graduating from the Naval Academy and serving for four years, he worked as a salesman for IBM before founding Electronic Data Systems in 1962 helping companies manage their computer networks.
He sold the company 22 years later for $2.5 billion.
Grayson County Judge Bill Magers said Perot should be remembered for his work outside of business.
"Ross Perot is a great American hero," said Magers.
When Perot ran for President as an independent in 1992, he won the popular vote in Grayson County with over 13,000 people casting their ballots for Perot.
Many credit him with taking away votes from the incumbent President George Bush, and putting Bill Clinton in the White House.
Nationwide, Perot earned 19% of the vote, more than any third party candidate since 1912.
"I think that speaks to Grayson County's independent streak. We're a conservative county but we think on our own. I think that particular election was a very monumental election in a lot of areas," said Magers.
Forbes magazine this year estimated Perot's wealth at $4.1 billion.
Perot also gave the commencement address at Austin College in 1989.