Business background
Hughes, Jr. held a leading role in the family business from 1985-1998 as Vice President of Acquisitions. Public Storage operates storage facilities across the United States and Europe as a member of the S&P 500 and FT Global 500. At present (2016), he is a member of the Board of Trustees of Public Storage, alongside his sister Tamara Gustavson.
In 2005, Hughes, Jr. founded American Commercial Equities. The firm is based in Malibu, California, and focuses on the management and acquisition of prime real estate properties in California and Hawaii. According to Forbes rankings of The World’s Billionaires 2016, Hughes, Jr.’s estimated net worth is $1.48 billion (as of July 2016).
Personal life
Hughes, Jr. holds a Bachelor of Arts in Performing Arts from the University of Southern California. As a native of Southern California, he is a surfer and rancher. Hughes, Jr., has two children.
Philanthropy
Hughes, Jr. played a significant role in the foundation of Oaks Christian School in California.
In 2013, Hughes, Jr. established Serving California. The mission of the foundation is to aid victims of crime and hardship, rehabilitate ex-offenders, and assist veterans impacted by PTSD.
- B. Wayne Hughes Jr. was born into the self storage business; his father, B. Wayne Hughes, cofounded Public Storage in 1972.
- Hughes Jr. worked at Public Storage for almost two decades, starting in 1983.
- He was vice president of acquisitions from 1992 to 2002 and still serves on the board alongside his billionaire sister, Tamara Hughes Gustavson.
- In 2005 he launched American Commercial Equities, a real estate company that acquires and manages properties in Hawaii and California.
- With his wife, Wendy, he created the Cantinas Ranch Foundation in Malibu, a place for worship, leadership and the arts.
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