What is Tamara Gustavson's Net Worth?
Tamara Gustavson is an American businesswoman who has a net worth of $10 billion. Tamara Hughes Gustavson earned her fortune by inheriting the self storage Public Storage empire from her father B. Wayne Hughes, who founded the company. Tamara worked for Public Storage from 1978 until 2003, returning in 2008 as a member of the company's board of directors.
Biography
Tamara "Tammy" Hughes Gustavson in 1961. She is one of two children born from B. Wayne Hughes' first marriage to Marjorie McKechnie. Tammy also had a half brother named Patrick who was born in 1990 to her father's second wife. Tragically, Patrick died in 1998 of childhood leukemia. In 1983 Tammy graduated from the University of Southern California with a degree in public affairs.
B. Wayne Hughes started Public Storage in 1972 only one storage locker. Today Public Storage is America's largest chain of storage facilities, with more than 2,400 locations worldwide. Public Storage is a public company, trading on the New York Stock Exchange under the ticker symbol PSA. As of this writing, PSA has a market cap north of $50 billion.
Upon her father's death, Tammy and Bradley Jr. inherited their father's estate but Tammy was given largest individual stake in Public Storage. As of this writing she owns 10% of the company's outstanding equity. She and her brother, B. Wayne Hughes Jr., serve on the board of Public Storage. Aside from Public Storage, Tammy personally owns 66 storage facilities in Canada and 6% of a company called American Homes 4 Rent, a real estate investment trust co-founded by her father that went public in 2013.
She is also a member of the Board of the USC-CHLA Institute for Pediatric Clinical Research.
Spendthrift Farm
In 2004, Tammy's father bought an historic Lexington, Kentucky horse breeding farm called Spendthrift Farm. Their thoroughbred champion Authentic (born May 5, 2017) won the 2020 Kentucky Derby. Thanks to Authentic $70,000 stud fee, Spendthrift was the highest-earning North American thoroughbred facility. In 2017 their horse Cloud Computing won the Preakness.
Personal Life
Tamara is married to Eric Gustavson. They have two children.
Upon B. Wayne's death in 2021, Tammy and Eric became the primary owners of Spendthrift Farm. Eric is the public face of Spendthrift and sits on the board of directors of the Breeders' Cup.
Malibu Mansion
In 2003, B. Wayne Hughes paid $20 million for a 3.6-acre estate in Malibu, California. Set atop a cliff overlooking the Pacific Ocean, the Hughes property features an 11,000 square-foot primary mansion that has 8 bedrooms and 12 bathrooms. Their are two guest houses, a home for full-time staff, a tennis court and a direct path to the beach.
Directly next door is a two-parcel compound owned by Whatsapp founder Jan Koum. Jan bought his first Malibu property in August 2019 for $100 million from entertainment mogul Ron Meyer. In February 2021 Jan paid $87 million for the home right next door. The seller in this case was reality star/entrepreneur Sanela Diana Jenkins.
Upon B. Wayne's death in August 2021, Eric and Tammy inherited the home. In May 2022 they listed it for sale for $127.5 million. In October 2022 television mogul Byron Allen bought the home for $100 million.
