B. Wayne Hughes Jr.

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]

B. Wayne Hughes Jr.
Alma materUniversity of Southern California
OccupationBusinessman
Net worthUS$1.25 billion (2018)[1]
Parent(s)

Business background

Hughes Jr. held a leading role in the family business from 1985 to 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. "B. Wayne Hughes, Jr". Forbes. Retrieved March 12, 2018.
  2. Savchuk, Katia. "Riding to the Rescue: Billionaire Brings Hope To Veterans On California Ranch". Forbes. Retrieved July 15, 2016.
  3. Morain, Dan (December 6, 2014). "B. Wayne Hughes Jr. spends millions and finds God in felons". Sacramento Bee. Retrieved March 12, 2018.
  4. "About B. Wayne Hughes, Jr". B. Wayne Hughes Jr. Retrieved July 15, 2016.
  5. "About Public Storage". Public Storage. Retrieved July 15, 2016.
  6. "Public Storage Trustees". Public Storage. Retrieved July 15, 2016.
  7. "The Firm: American Commercial Equities". American Commercial Equities. Retrieved July 15, 2016.
  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. 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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