Tracey was educated at King Edward VI Grammar School, Stratford-upon-Avon, and studied law at the University of Birmingham, graduating with a Bachelor of Laws degree. From 1964 to 1966, Tracey was a leader writer for the Daily Express. From 1966 to 1978, he worked as a presenter and reporter for the BBC, involved in major TV and radio current affairs programmes and documentaries. He was a public affairs consultant between 1978 and 1983, and between 1997 and 2008. He is the author of 'World of Motor Sport' published in 1971 and 'Hickstead – The First Twelve Years' published in 1972. After unsuccessfully contesting Northampton North in October 1974, he became chairman of Putney Conservative Association, then Deputy Chairman of the Greater London Area of the Conservative Party. He was President of Tooting Conservative Association. His wife Katharine Tracey, formerly Katharine Gardner, became a senior councillor on Wandsworth London Borough Council for 29 years, and received the OBE for services to education. They have four children and eight grandchildren. Tracey died peacefully at home on 19 March 2020, aged 77.
In 2008 Tracey was elected a Member of the London Assembly representing Merton and Wandsworth, and later became Deputy Leader of the Conservative Group and Conservative lead on transport when he campaigned to tighten the law on London transport strikes and celebrated the completion of the Overground rail line to Clapham Junction as well as striving to reduce pollution from buses and HGVs in Putney High Street and elsewhere, and to extending the Wimbledon Tramlink to Morden and St Helier. He was Vice-Chairman of the London Fire and Emergency Planning Authority, and Member of the Metropolitan Police Authority. In 2008, he was appointed Mayor's Ambassador for the River by Mayor Boris Johnson where he pushed successfully to extend the fast river transport service upstream to Putney in 2013 and got new piers at Vauxhall, Battersea Reach, and Battersea Power Station; and was Chairman of the London Waste and Recycling Board from 2012–16 with strategies to increase London recycling. He retired in 2016, and his former Merton and Wandsworth seat was then won by Labour's Leonie Cooper. He has been a Freeman of the City of London since 1984; a Freeman of the Company of Watermen and Lightermen; President of Kingston Regatta, and of Kingston RFC; a Justice of the Peace; and a Fellow of the Industry and Parliament Trust since 1985.
Controversies
The role and extent of non-party organisations in social media advertising during the UK General Election of 2019 was examined by journalist Rory Cellan-Jones of the BBC. Richard Patrick Tracey was identified as the sponsor of a Facebook advert, which opposed the Labour Party's 2019 pledge to remove charitable status and tax exemptions from private schools in the United Kingdom.