B Wayne Hughes Net Worth $195 Billion
Kids, Work and Public Storage
B Wayne Hughes is the founder and chairman of Public Storage that has an estimated net worth of $1.95 billion as of March 2013. In the “Forbes 400” list, he was ranked the 250th wealthiest person and was recorded #785 in the World Billionaires. Presently, he is the richest person in Kentucky.
In 1972, he started a self-storage facility called Public Storage. Nowadays, it’s one of the biggest self storage company in America which does business as a real-estate investment trust (REIT) that pays no federal tax under the current tax law in the United States.
Hughes was the business’s president and co-chief executive officer between 1980 and 1991. In November 1991, he was named the chairman of the board and the lone chief executive officer. He stepped down as the CEO of the company in 2002 but remains the chairman of the board. He was likewise the chairman of the board along with the chief executive officer of the 18 allied REITs that were unified into the organization from September 1994 to May 1998.
B Wayne Hughes is called an avid supporter of conservative politics and causes. He could be also popular in the thoroughbred racing world. He possesses a 700-acre Spendthrift Farm in Kentucky.