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Bradley Wayne Hughes (September 28, 1933 – August 18, 2021) was an American billionaire businessman, the founder and chairman of Public Storage, [1] the largest self-storage company in the U.S. doing business as a real estate investment trust (REIT). [2] At the time of his death, Hughes had an estimated net worth of US$3.3 billion. [3]
The idea for Public Storage was conceived by Southern California real estate developer B. Wayne Hughes in the early 1970s. [6] During a trip to Texas, he observed that local real estate developers were doing well creating mini-storage facilities outside of Dallas and Houston.
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.
Tamara Hughes Gustavson (born 1961) is an American business executive and billionaire. [1] [2] The daughter of Public Storage co-founder and chairman B. Wayne Hughes, [3] Gustavson is Public Storage’s largest shareholder, owning 11% of the company. [2] As of August 2022, she ranked #251 on the Forbes 400 with a net worth of $8 billion. [4]
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The company was established in October 2012 by B. Wayne Hughes, the founder of Public Storage. [2] It was one of the first large public companies to begin investing heavily in single-family homes, following the entry of The Blackstone Group into the field in 2012. [3]
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