Tamara Gustavson
Born
Tamara Hughes

1961 (age 62–63)
NationalityAmerican
Alma materUniversity of Southern California
OccupationBusiness executive
Known for11% stake in Public Storage
Children2
Parent
RelativesB. Wayne Hughes Jr. (brother)

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]

Early life and education

Gustavson was born in 1961 to B. Wayne Hughes and Marjorie McKechnie.[1][3] She has one older brother, B. Wayne Hughes Jr.[3] She graduated from San Marino High School in 1979.[5][6] Gustavson attended the University of Southern California, and was a member of the Pi Beta Phi sorority.[7] She graduated in 1983 with a Bachelor of Science in public affairs.[7]

Career

Gustavson joined Public Storage in 1983. She worked at the company for twenty years, rising to senior vice president before leaving in 2003.[2][7] She joined the company’s board of trustees in 2008[7] and, as of 2022, was the largest shareholder with an 11% stake.[2] In 2016, with an estimated net worth of $4.9 billion, she established herself as the wealthiest person in the state of Kentucky.[2][8]

Gustavson was on the board of directors of the USC-CHLA Institute for Pediatric Clinical Research from 2004 to 2008, and has served as Director of the William Lawrence & Blanche Hughes Foundation.[2][7]

In 2016, Gustavson joined the board of American Homes 4 Rent, a publicly traded REIT specializing in single-family rental homes founded by B. Wayne Hughes.[2][9] She became chairwoman of its board in May 2019.[9] In 2020, she ranked 154 on the Forbes 400 with a net worth of $4.6 billion.[10] In October 2022, Forbes estimated her net worth at $7.3 billion.[2]

Personal life

Gustavson married her husband Eric in 1993.[5] They have two children and live in Lexington, Kentucky.[11] She and her husband own Spendthrift Farm, a Thoroughbred race horse breeding farm in Kentucky[12] that is home to ten Kentucky Derby winners and the Hall of Fame mare Beholder.[2][13]

In May 2022, Gustavson had put her Malibu property on sale for $127.5 million.[1][14] In October 2022, American businessman Byron Allen bought the property for $100 million.[15][16]

References

  1. 1 2 3 Flemming, Jack (May 17, 2022). "Public Storage billionaire wants $127.5 million for her Malibu compound". Los Angeles Times. Archived from the original on October 19, 2022. Retrieved October 19, 2022.
  2. 1 2 3 4 5 6 7 8 9 "Tamara Gustavson". Forbes. Archived from the original on October 26, 2019. Retrieved February 21, 2022.
  3. 1 2 3 Ryanand, Harriet; Hamilton, Matt (September 8, 2019). "B. Wayne Hughes: big man on campus". LA Times. Archived from the original on October 26, 2022. Retrieved July 7, 2022.
  4. ↑ "The Forbes 400 2021: The Richest People in America". Forbes. Archived from the original on October 26, 2022. Retrieved October 26, 2022.
  5. 1 2 "Hughes/Gustavson Nuptials Welcome the New Year In". San Marino Tribune. February 17, 1994.
  6. ↑ "San Marino High School". Old-Friends.com. Archived from the original on March 9, 2023. Retrieved March 2, 2023.
  7. 1 2 3 4 5 Staff Writer (July 1, 2010). "Board of Trustees Elects Three Members". University of Southern California. Archived from the original on October 26, 2022. Retrieved July 11, 2022.
  8. ↑ "Tamara Gustavson & family". Forbes. Archived from the original on October 26, 2019. Retrieved December 31, 2016.
  9. 1 2 "Tamara Hughes Gustavson to Chair American Homes 4 Rent Board | San Fernando Valley Business Journal". www.sfvbj.com. May 9, 2019. Archived from the original on April 23, 2021. Retrieved February 12, 2021.
  10. ↑ "The Forbes 400 2020: The Richest People in America". Forbes. Archived from the original on September 19, 2018. Retrieved September 9, 2020.
  11. ↑ Tobin, Ben (October 3, 2019). "How much is Ky.'s richest person worth? Hint: it's in the billions". Louisville Courier Journal. Archived from the original on February 25, 2023. Retrieved July 15, 2022.
  12. ↑ Barton, Jean (June 18, 2022). "Western Livestock Journal Bluegrass Tour, day three". Red Bluff Daily News. Archived from the original on October 26, 2022. Retrieved July 11, 2022.
  13. ↑ Kane, Mike (August 5, 2022). "Leading Ladies Inducted Into Hall of Fame". Thoroughbred Daily News. Archived from the original on October 26, 2022. Retrieved August 9, 2022.
  14. ↑ Staff (May 24, 2022). "Billionaire Tamara Gustavson Lists Majestic Malibu Promontory Estate for $127.5M | American Luxury". www.amlu.com. Archived from the original on October 19, 2022. Retrieved October 19, 2022.
  15. ↑ Brown, Evan Nicole (October 12, 2022). "Billionaire Byron Allen Makes History With Most Expensive Home Purchase by an African American in the U.S." The Hollywood Reporter. Retrieved March 7, 2023.
  16. ↑ Clarke, Katherine (October 10, 2022). "Malibu Mansion Sells for $100 Million to Billionaire Media Mogul". Wall Street Journal. Retrieved March 7, 2023.
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