B. Wayne Hughes Jr.

B. Wayne Hughes Jr.
Alma mater University of Southern California
Occupation Businessman
Net worth US$1.25 billion (2018)[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.[3]

Business background

Hughes Jr. held a leading role in the family business from 1985-1998 as Vice President of Acquisitions.[4] Public Storage operates storage facilities across the United States and Europe as a member of the S&P 500 and FT Global 500.[5] At present (2016), he is a member of the Board of Trustees of Public Storage, alongside his sister Tamara Gustavson.[6]

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.[7] According to Forbes rankings of The World's Billionaires 2018, Hughes Jr.'s estimated net worth is $1.25 billion (as of March 2018).[1]

Personal life

Hughes Jr. holds a Bachelor of Arts in Performing Arts from the University of Southern California.[1] 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 3 "B. Wayne Hughes, Jr". Forbes. Retrieved 12 March 2018.
  2. ↑ Savchuk, Katia. "Riding To The Rescue: Billionaire Brings Hope To Veterans On California Ranch". Forbes. Retrieved 15 July 2016.
  3. ↑ Morain, Dan (December 6, 2014). "B. Wayne Hughes Jr. spends millions and finds God in felons". Sacramento Bee. Retrieved 12 March 2018.
  4. ↑ "About B. Wayne Hughes, Jr". B. Wayne Hughes Jr. Retrieved 15 July 2016.
  5. ↑ "About Public Storage". Public Storage. Retrieved 15 July 2016.
  6. ↑ "Public Storage Trustees". Public Storage. Retrieved 15 July 2016.
  7. ↑ "The Firm: American Commercial Equities". American Commercial Equities. Retrieved 15 July 2016.
  8. ↑ "Oaks Christian School: About us". Oaks Christian School. Retrieved 15 July 2016.
  9. ↑ "About SC". Serving California. Retrieved 15 July 2016.
  10. ↑ "What you need to Know about Prop 47". CA.Gov. Retrieved 15 July 2016.
  11. 1 2 Sledge, Matt (2 October 2014). "California Prison Reform's Biggest Backer Is Also Friends With Karl Rove". The Huffington Post. Retrieved 15 July 2016.
  12. ↑ "Veterans' Courts measure advanced". The Porterville Recorder. Retrieved 15 July 2016.
  13. ↑ "Right on Crime". Right on Crime. Retrieved 15 July 2016.
  14. ↑ "B. Wayne Hughes Jr, TEDx ironwood state prison". TEDx. Retrieved 15 July 2016.
  15. ↑ 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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