B. Wayne Hughes
Overview
- Source of Wealth
- self storage
- Industry
- Service
- Residence
- Education
- University of Southern California (Bachelor of Arts/Science)
- Children
- 2
Assets
- American Homes 4 Rent73,175,000 shares @ --AMH-US
- Public Storage458,000 shares @ --PSA-US
Biography
B. Wayne Hughes cofounded self-storage company Public Storage in 1972 and has since made a fortune storing Americans' excess junk.
In 2011 he formed American Homes 4 Rent, a publicly-traded REIT that owns and rents out nearly 53,000 single-family homes across 22 states.
Hughes owns less than 1% of Public Storage shares, having given bulk to his daughter Tamara Hughes Gustavson and also to his son Wayne Hughes Jr.
The company boasts $2.2 billion in sales, mostly from its 2,000 self-storage locations worldwide. Its European unit Shurgard went public in 2018.
In September, Hughes was outed by the L.A. Times as the anonymous donor of $400 million to his alma mater, the University of Southern California.
About
A lover of thoroughbred horse racing, Hughes has nine Kentucky Derby champions -- two of them Triple Crown winners -- standing at stud at his Spendthrift Farm.
Hughes was an usher at O.J. Simpson's wedding to Nicole Brown.