B. Wayne Hughes Jr.
Born1958 or 1959 (age 64–65)[1]
Alma materUniversity of Southern California
OccupationBusinessman
Parent
RelativesTamara Gustavson (sister)

B. Wayne Hughes Jr. (born 1958 or 1959)[1] is an American businessman and philanthropist. He is the son and namesake of B. Wayne Hughes, the founder and chairman of Public Storage, established in 1972.[2]

Business background

Hughes Jr. held a leading role in the family business from 1985 to 1998 as Vice President of Acquisitions.[3] Public Storage operates storage facilities across the United States and Europe as a member of the S&P 500 and FT Global 500.[4] At present (2016), he is a member of the Board of Trustees of Public Storage, alongside his sister Tamara Gustavson.[5]

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.[6] According to Forbes rankings of The World's Billionaires 2018, Hughes Jr.'s estimated net worth is $1.25 billion (as of March 2018).[7]

Personal life

Hughes Jr. holds a Bachelor of Arts in Performing Arts from the University of Southern California.[7] 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.[8]

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.[9]

Political activities

Hughes Jr. donated $1.2 million to California Proposition 47 (2014), focused on sentencing reform, which California voters passed in November 2014. The bill reduces certain drug possession felonies to misdemeanors.[10][11] During the campaign he stated, "When [Prop 47] passes ... the next place for parties to come together are issues around mental health. I'm doing what I'm doing and I'm not going to quit. It's fun helping people."[11]

Hughes Jr. supported CA Assembly Bill 1672, which works to expand the reach of veterans courts dealing with rehabilitation and recovery.[12]

Hughes Jr. is a member of the organization Right on Crime, a nationwide initiative to drive criminal justice reform.[13] On June 15, 2014, Hughes Jr. spoke at TEDx at Ironwood State Prison about the need for change in the country's prison system.[14]

During the 2016 presidential election, Hughes donated $117,000 to the campaign of Libertarian Gary Johnson.[15]

References

  1. 1 2 Savchuk, Katia. "Riding to the Rescue: Billionaire Brings Hope To Veterans On California Ranch". Forbes. Retrieved July 15, 2016.
  2. ↑ Morain, Dan (December 6, 2014). "B. Wayne Hughes Jr. spends millions and finds God in felons". Sacramento Bee. Retrieved March 12, 2018.
  3. ↑ "About B. Wayne Hughes, Jr". B. Wayne Hughes Jr. Retrieved July 15, 2016.
  4. ↑ "About Public Storage". Public Storage. Archived from the original on February 2, 2018. Retrieved July 15, 2016.
  5. ↑ "Public Storage Trustees". Public Storage. Retrieved July 15, 2016.
  6. ↑ "The Firm: American Commercial Equities". American Commercial Equities. Retrieved July 15, 2016.
  7. 1 2 "B. Wayne Hughes, Jr". Forbes. Retrieved March 12, 2018.
  8. ↑ "Oaks Christian School: About us". Oaks Christian School. Archived from the original on July 23, 2016. Retrieved July 15, 2016.
  9. ↑ "About SC". Serving California. Retrieved July 15, 2016.
  10. ↑ "What you need to Know about Prop 47". CA.Gov. Retrieved July 15, 2016.
  11. 1 2 Sledge, Matt (October 2, 2014). "California Prison Reform's Biggest Backer Is Also Friends With Karl Rove". HuffPost. Retrieved July 15, 2016.
  12. ↑ "Veterans' Courts measure advanced". The Porterville Recorder. Retrieved July 15, 2016.
  13. ↑ "Right on Crime". Right on Crime. Retrieved July 15, 2016.
  14. ↑ "B. Wayne Hughes Jr, TEDx ironwood state prison". TEDx. Retrieved July 15, 2016.
  15. ↑ Mason, Melanie (September 7, 2016). "Why a conservative California mega-donor gave more than $100,000 to Gary Johnson's presidential campaign". Los Angeles Times. Retrieved October 10, 2016.
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