Bloomberg Billionaires Index

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# 477 B Wayne Hughes $4.33B

Random fact: Prairie dust storms prompted family's move to LA from Oklahoma.


Hughes is the founder of American Homes 4 Rent, a provider of more than 50,000 single-family rental properties in the U.S. The publicly traded California-based company operates in 22 states. Hughes co-founded warehouse rental business Public Storage in 1972, and owns Kentucky's Spendthrift stallion farm.

As of :
Last change +$8.68M ( +0.2%)
YTD change +$324M ( +8.1%)
Industry Services
Biggest asset AMH US Equity
Citizenship United States
Age 86
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

B Wayne Hughes's net worth of $4.33B can buy ...

troy ounces of gold
barrels of crude oil

... and is equivalent to ...

of the GDP of the United States
of the total wealth of the 500 richest people in the world
of the top 100 U.S. college endowments
of the top 200 U.S. executives’ total awarded compensation
of U.S. existing home sales
times the median U.S. household income

Latest News

Net Worth Summary

Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Hughes's fortune is held in cash and other liquid assets. He owns about 0.7% of Public Storage, according to a September 2019 stock exchange filing. That's down from 16% in 2005, during which time he sold or donated shares, according to data collected by Bloomberg. Between the sales and dividends on the shares he held, he collected about $1.7 billion. The value of his cash investments is calculated using these inflows and an analysis of taxes and market performance.

He controls about 70 million shares of American Homes 4 Rent directly and through trusts that hold an 89% stake in American Homes 4 Rent LLC, according to the company's 2019 proxy. The company owned 52,634 single-family properties in 22 states as of June 30, 2019, according to its website.

The Hughes family also owns self-storage facilities in Canada, according to Public Storage's annual report. They're valued at about $8 million each, based on the average market price of Public Storage's warehouse purchases between 2015 and 2018 as disclosed in the company's 2018 annual report.

A spokesperson for Hughes didn't return a call seeking comment about his net worth.


Birthdate: 9/28/1933
Family: Married, 2 children
Education: University of Southern California

Bradley Wayne Hughes was born in 1933 in Gotebo, Oklahoma, and later moved to the San Gabriel Valley in Southern California, where he graduated in 1952 from Alhambra's Mark Keppel High School. He went into real estate after earning a bachelor’s degree in business from the University of Southern California’s Marshall School of Business in 1957. He founded Public Storage in 1972 with a $50,000 investment after driving along a Texas road and noticing a self-storage warehouse loaded to capacity. Hughes retired as chief executive officer in 2002, and as chairman in 2011.

Hughes got into horse racing after befriending two neighbors in San Marino, California, who shared his passion for the sport. He bought a 10-acre farm in Malibu, California, in 1991, and acquired the storied 700-acre Spendthrift Farm in Lexington, Kentucky, in 2004. He spends about half the year at Spendthrift. Hughes became friends with O.J. Simpson when he was a star running back at USC, and was named guardian of the estate of Simpson's two children in 1994 when the retired hall of famer was charged with murder.

He also helped fund the Parker Hughes Cancer Center in Roseville, Minnesota, which was named after a son who died of cancer at age eight. The clinic closed in 2008 and filed for chapter 7 liquidation following accusations of questionable treatments, charges and advertising claims originally exposed in a 2003 series of articles in the Minneapolis Star Tribune.

  • 1933 Bradley Wayne Hughes is born in Gotebo, Oklahoma.
  • 1972 Co-founds Public Storage, builds into national warehouse chain.
  • 1985 Praised by O.J. Simpson in Pro Football Hall of Fame speech.
  • 2004 Purchases historic Spendthrift Farm horse-breeding facility.
  • 2010 Donates $3.25 million to American Crossroads.
  • 2011 Steps down as chairman of Public Storage, continues as trustee.
  • 2012 Invests in American Homes 4 Rent as non-public REIT.
  • 2013 Announces plans to sell shares in American Homes 4 Rent.