What is Tamara Gustavson’s Net Worth?
Tamara Gustavson, an American businesswoman, has a net worth of $10 billion, according to reports. She inherited the self-storage Public Storage empire from her father, founder B. Wayne Hughes, and worked for the company from 1978 to 2003. Gustavson returned to Public Storage in 2008 as a member of its board of directors.
Tamara Gustavson: Heir to Public Storage Fortune
Tamara “Tammy” Hughes Gustavson was born in 1961 to B. Wayne Hughes and Marjorie McKechnie. She graduated from the University of Southern California in 1983 with a degree in public affairs.
Her father started Public Storage in 1972, which has since become America’s largest chain of storage facilities with over 2,400 locations worldwide. As of this writing, Public Storage is a publicly traded company with a market cap of over $50 billion.
Upon her father’s death, Tammy and her brother inherited his estate, but she was given the largest individual stake in Public Storage, owning 10% of the company’s outstanding equity. Tammy and her brother both serve on the board of Public Storage.
In addition to her stake in Public Storage, Tammy personally owns 66 storage facilities in Canada and 6% of American Homes 4 Rent, a real estate investment trust co-founded by her father that went public in 2013.
Tammy is also a member of the Board of the USC-CHLA Institute for Pediatric Clinical Research.
Tammy’s Spendthrift Farm Reigns Supreme in Thoroughbred Racing
In 2004, Tammy’s father purchased Spendthrift Farm, an iconic horse breeding farm in Lexington, Kentucky. Since then, the farm has become one of the top-earning North American thoroughbred facilities.
Spendthrift’s success is largely due to their champion thoroughbred Authentic, born in 2017, who won the prestigious Kentucky Derby in 2020. With a stud fee of $70,000, Authentic has helped propel Spendthrift to the top of the racing world.
But Authentic isn’t the only horse to bring glory to Spendthrift. In 2017, their horse Cloud Computing won the Preakness, cementing the farm’s status as a leading force in thoroughbred racing.
Tamara Gustavson and Eric Gustavson: From Inheritance to Ownership of Spendthrift Farm
Tamara Gustavson, who is married to Eric Gustavson and has two children, became the primary owner of Spendthrift Farm after the death of B. Wayne in 2021. The couple is now responsible for the management and operations of the farm.
Eric Gustavson, who is the public face of Spendthrift, sits on the board of directors of the Breeders’ Cup. With his experience and expertise in the industry, he is expected to continue the legacy of the farm and maintain its reputation as a top breeding and racing operation.
B. Wayne Hughes’ Malibu Estate Sells for $100 Million
In 2003, B. Wayne Hughes purchased a 3.6-acre estate in Malibu for $20 million. The property features an 11,000 square-foot mansion with 8 bedrooms and 12 bathrooms, two guest houses, a home for full-time staff, a tennis court, and a direct path to the beach. In August 2021, Eric and Tammy inherited the home upon B. Wayne’s death. In May 2022, they listed the property for sale at $127.5 million. In October 2022, television mogul Byron Allen purchased the estate for $100 million.
Directly next door to the Hughes’ property is a two-parcel compound owned by Whatsapp founder Jan Koum. In August 2019, Koum purchased his first Malibu property for $100 million from entertainment mogul Ron Meyer. In February 2021, he bought the home next door for $87 million from reality star/entrepreneur Sanela Diana Jenkins.
