Tamara Gustavson Explained

Tamara Gustavson
Birth Name:Tamara Hughes
Known For:11% stake in Public Storage
Occupation:Business executive
Alma Mater:University of Southern California
Nationality:American
Children:2
Father:B. Wayne Hughes
Relatives:B. 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. 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. She has one older brother, B. Wayne Hughes Jr. 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.

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 and, as of 2022, was the largest shareholder with an 11% stake. 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.

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.[9] She became chairwoman of its board in May 2019. 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.

Personal life

Gustavson married her husband Eric in 1993. 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.[13]

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

Notes and References

  1. News: Flemming . Jack . 17 May 2022 . Public Storage billionaire wants $127.5 million for her Malibu compound . . October 19, 2022 . October 19, 2022 . https://web.archive.org/web/20221019221930/https://www.latimes.com/business/real-estate/story/2022-05-17/public-storage-billionaire-wants-127-5-million-for-her-malibu-compound . live .
  2. Web site: Tamara Gustavson . 21 February 2022 . Forbes . October 26, 2019 . https://web.archive.org/web/20191026080826/https://www.forbes.com/profile/tamara-gustavson/ . live .
  3. News: Ryanand . Harriet . Hamilton . Matt . 8 September 2019 . B. Wayne Hughes: big man on campus . LA Times . 7 July 2022 . October 26, 2022 . https://web.archive.org/web/20221026045322/https://enewspaper.latimes.com/infinity/article_share.aspx?guid=47a1e93a-7e7b-4101-9365-f2e0d94f6ee2 . live .
  4. Web site: The Forbes 400 2021: The Richest People in America . . October 26, 2022 . October 26, 2022 . https://web.archive.org/web/20221026045322/https://www.forbes.com/profile/tamara-gustavson/?list=forbes-400&sh=6da013dc48bb . live .
  5. News: Hughes/Gustavson Nuptials Welcome the New Year In . San Marino Tribune . 17 February 1994.
  6. Web site: San Marino High School . live . https://web.archive.org/web/20230309021714/https://old-friends.co/school.php?s=17092 . 2023-03-09 . 2 March 2023 . Old-Friends.com.
  7. News: Staff Writer . 1 July 2010 . Board of Trustees Elects Three Members . University of Southern California . 11 July 2022 . October 26, 2022 . https://web.archive.org/web/20221026045328/https://news.usc.edu/28417/Board-of-Trustees-Elects-Three-Members/ . live .
  8. Web site: Tamara Gustavson & family . 31 December 2016 . Forbes . October 26, 2019 . https://web.archive.org/web/20191026080826/https://www.forbes.com/profile/tamara-gustavson/ . live .
  9. Web site: 9 May 2019 . Tamara Hughes Gustavson to Chair American Homes 4 Rent Board San Fernando Valley Business Journal . live . https://web.archive.org/web/20210423023904/http://www.sfvbj.com/news/2019/may/09/tamara-hughes-gustavson-chair-american-homes-4-ren/ . April 23, 2021 . 2021-02-12 . www.sfvbj.com.
  10. Web site: The Forbes 400 2020: The Richest People in America . 2020-09-09 . Forbes . September 19, 2018 . https://web.archive.org/web/20180919212115/https://www.forbes.com/forbes-400/list/ . live .
  11. News: Tobin . Ben . 3 Oct 2019 . How much is Ky.'s richest person worth? Hint: it's in the billions . Louisville Courier Journal . 15 July 2022 . February 25, 2023 . https://web.archive.org/web/20230225224903/https://www.courier-journal.com/story/money/2019/10/02/richest-person-kentucky-has-net-worth-5-7-billion/3845291002/ . live .
  12. News: Barton . Jean . 18 June 2022 . Western Livestock Journal Bluegrass Tour, day three . Red Bluff Daily News . 11 July 2022 . October 26, 2022 . https://web.archive.org/web/20221026045329/https://www.redbluffdailynews.com/2022/06/17/western-livestock-journal-bluegrass-tour-day-three/ . live .
  13. News: Kane . Mike . 5 August 2022 . Leading Ladies Inducted Into Hall of Fame . Thoroughbred Daily News . 9 August 2022 . October 26, 2022 . https://web.archive.org/web/20221026050824/https://www.thoroughbreddailynews.com/leading-ladies-inducted-into-hall-of-fame/ . live .
  14. News: Staff . May 24, 2022 . Billionaire Tamara Gustavson Lists Majestic Malibu Promontory Estate for $127.5M American Luxury . www.amlu.com . October 19, 2022 . October 19, 2022 . https://web.archive.org/web/20221019222433/https://www.amlu.com/2022/05/24/billionaire-tamara-gustavson-lists-majestic-malibu-promontory-estate-for-127-5m/ . live .
  15. Web site: Brown . Evan Nicole . 2022-10-12 . Billionaire Byron Allen Makes History With Most Expensive Home Purchase by an African American in the U.S. . 2023-03-07 . The Hollywood Reporter . en-US.
  16. News: Clarke . Katherine . Malibu Mansion Sells for $100 Million to Billionaire Media Mogul . 2023-03-07 . Wall Street Journal . October 10, 2022 . en-US.

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