B. Wayne Hughes, Jr.
| B. Wayne Hughes, Jr. | |
|---|---|
| Alma mater | University of Southern California |
| Occupation | Businessman |
| Net worth | US$1.48 Billion (2016) |
| Parent(s) |
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B. Wayne Hughes, Jr. (57 years old as of 2016) 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.
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).
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.
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.
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. 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.”
In addition, Hughes, Jr. is backing CA Assembly Bill 1672, which works to expand the reach of veteran’ courts dealing with rehabilitation and recovery.
Hughes, Jr. is a member of the organization Right on Crime, a nationwide initiative to drive criminal justice reform. On June 15, 2014, Hughes, Jr. spoke at TEDx at Ironwood State Prison about the need for change in the country's prison system.
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