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Wayne Hughes Jr.

Net Worth: $1.3B   |   Malibu, California
American Equities Management Founder
Wayne Hughes Jr.
Malibu, California

Wayne Hughes Jr. inherited a 3.5% stake in Public Storage from his father, Wayne Hughes Sr. He sits on the board of directors of the company, along with his sister, Tamara Gustavson. Public Storage has more than 140M SF of net rentable real estate, spread across more than 2,200 locations.

He founded American Commercial Equities Management in 2005 to acquire and manage retail mixed-use properties in Hawaii and California. Its portfolio now tops 60 assets.

Hughes' philanthropic activities have largely centered around prison and sentencing reform, especially pertaining to drug offenses. He donated to Gary Johnson’s Libertarian bid for the presidency in 2016. — Scott Klocksin

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