B. Wayne Hughes
B. Wayne Hughes
|Born||September 28, 1933|
Gotebo, Oklahoma, US
|Alma mater||University of Southern California|
|Net worth||US$2.6 billion (March 2018)|
B. Wayne Hughes, Jr.
Bradley Wayne Hughes (born September 28, 1933) is an American billionaire businessman, the founder and chairman of Public Storage, the largest self-storage company in the U.S. doing business as a REIT or real estate investment trust. As of 2014, Hughes is worth $2.2 billion.
Known all his life by his middle name, B. Wayne Hughes was the company's President and Co-Chief Executive Officer from 1980 until November 1991 when he became Chairman of the Board and sole Chief Executive Officer. He retired as Chief Executive Officer in November 2002 and remains Chairman of the Board. He was Chairman of the Board and Chief Executive Officer from 1990 until March 1998 of Public Storage Properties XI, Inc., which was renamed PS Business Parks, Inc. ("PSB"), an affiliated REIT. From 1989-90 until the respective dates of merger, he was Chairman of the Board and Chief Executive Officer of 18 affiliated REITs that were merged into the Company between September 1994 and May 1998 (collectively, the "Merged Public Storage REITs"). has been active in the real estate investment field for over 30 years.
Thoroughbred horse racing
An owner of thoroughbred racehorses since 1972, his colt Action This Day won the 2003 Breeders' Cup Juvenile and was voted the Eclipse Award for Outstanding 2-Year-Old Male Horse. In June 2004 he acquired the historic 700-acre (2.8 km2) Spendthrift Farm near Lexington, Kentucky. In 2013, his filly Beholder won the Breeders' Cup Distaff and was voted the Eclipse Award for American Champion Three-Year-Old Filly.
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- Under U.S. tax law, REITs are required to pay out at least 90% of their incomes to unitholders (the equivalent of shareholders). These amounts are taxed to the unitholder as ordinary income. "The Basics of REIT Taxation," Investopedia, at http://www.investopedia.com/articles/pf/08/reit-tax.asp
- "#816 B. Wayne Hughes". Forbes. 2014-05-26. Retrieved 2014-05-26.
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- "American buyers return to Sydney's Easter Sale in greater numbers - Topics: Al Shaqab Racing, S.F. Bloodstock, Spendthrift Farm, Inglis, Merriebelle Stables - Thoroughbred Racing Commentary". Thoroughbred Racing Commentary. Retrieved 24 September 2017.
- "Bradley Wayne Hughes, Patricia Whitcraft Sighting in Gold Coast, Australia on 01/10/15 at 10:00 AM at Gold Coast Racecourse". PulseCelebrity. Retrieved 24 September 2017.
- "The Guest List". 7 November 2007. Retrieved 24 September 2017 – via www.washingtonpost.com.