B. Wayne Hughes, Jr.

B. Wayne Hughes, Jr.
Alma mater University of Southern California
Occupation Businessman
Net worth US$1.48 Billion (2016)[1]
Parent(s)

B. Wayne Hughes, Jr. (57 years old as of 2016)[2] 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.

Business background

Hughes, Jr. held a leading role in the family business from 1985-1998 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 2016, Hughes, Jr.'s estimated net worth is $1.48 billion (as of July 2016).[7]

Personal life

Hughes, Jr. holds a Bachelor of Arts in Performing Arts from the University of Southern California.[8] 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.[9]

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.[10]

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.[11][12] 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.”[13]

In addition, Hughes, Jr. is backing CA Assembly Bill 1672, which works to expand the reach of veteran’ courts dealing with rehabilitation and recovery.[14]

Hughes, Jr. is a member of the organization Right on Crime, a nationwide initiative to drive criminal justice reform.[15] On June 15, 2014, Hughes, Jr. spoke at TEDx at Ironwood State Prison about the need for change in the country's prison system.[16]

During the 2016 presidential election, Hughes donated $117,000 to the campaign of Libertarian Gary Johnson.[17]

References

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