Tamara Gustavson
Born
Tamara Hughes

1961 (age 6263)
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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