Tamara Gustavson
Tamara Hughes Gustavson is an American investor who is the largest single shareholder and a trustee of the self-storage real estate investment trust Public StoragePublic StoragePublic Storage is an American self-storage real estate investment trust that opened its first facility in 1972 and is headquartered in Frisco, Texas.Open the full entry, which her father, B. Wayne Hughes, cofounded in 1972. ForbesForbesForbes is an American business media brand that began with Forbes magazine, founded by B.C. Forbes in 1917. It is known for rankings such as the Forbes 400, the World’s Billionaires list and 30 Under 30, and operates Forbes.com, ForbesLive events and licensed editions in 81 countries. Since 2014 a majority stake has been held by the Hong Kong investment group Integrated Whale Media; a 2021 plan to list on the New York Stock Exchange through a special purpose acquisition company was terminated in 2022. It is headquartered in Jersey City, New Jersey.Open the full entry included her on its 2026 list of the richest person in every state (Kentucky).
Contents10 sections
Key facts
Background: Family and Education
Gustavson is the daughter of B. Wayne Hughes, who cofounded Public Storage in 1972 and also cofounded American Homes 4 Rent, a publicly traded real estate investment trust focused on single-family rental homes. Her brother, B. Wayne Hughes Jr., is also a billionaire.[1]
She graduated from the University of Southern CaliforniaUniversity of Southern CaliforniaThe University of Southern California (USC) is a private research university in Los Angeles, California, planned by a group led by Judge Robert Maclay Widney and opened to students in 1880.Open the full entry with a bachelor’s degree.[1]
1983–2003Career at Public Storage
From 1983 to 2003 Gustavson worked at Public Storage, most recently as Senior Vice President, Administration.[2]
2004 Onward: Spendthrift Farm
November 2008Joining the Public Storage Board
In November 2008 Gustavson joined the Public Storage board as an independent trustee.[2]
June 2023Kentucky’s Only Listed Billionaire
In 2023 Forbes again named Gustavson the richest person in Kentucky; she was the only Kentucky resident on that year’s Forbes billionaires list, with a real-time net worth estimated at $7.3 billion in mid-June 2023, ranking No. 307 in the world.[4]
March 2026Shareholding and Board Roles
As of March 2026 Gustavson was Public Storage’s largest single shareholder, owning approximately 9.9% of its common shares.[2]
She also serves on the boards of trustees of American Homes 4 Rent (NYSE: AMH), the University of Southern California and the William Lawrence and Blanche Hughes Foundation; over the past ten years she has supervised her personal business investments and engaged in charitable activities.[2]
June–September 2026: Sale of PS Canada to Public Storage
On June 22, 2026, Public Storage announced an agreement to acquire PS Canada for $1.2 billion plus additional earn-out consideration of $288 million. PS Canada was owned by Gustavson and her adult children, making the deal a related-party transaction; its portfolio comprised 68 properties with approximately 5.3 million rentable square feet.[5]
On September 1, 2026, Public Storage completed the acquisition for US$1.2 billion, including assumed debt.[6]
November 2026Forbes Wealth Estimate
As of November 4, 2026, Forbes estimated Gustavson’s real-time net worth at $9.6 billion, giving her residence as Lexington, Kentucky.[1]
Related Organizations, Websites, and Public Accounts
Public Storage: Official website: https://www.publicstorage.com/ (opens in a new window).[7]
Sources
- Tamara Gustavson (opens in a new window)
- Public Storage 2026 Proxy Statement (opens in a new window)
- Racing Stalwart B. Wayne Hughes Dies (opens in a new window)
- Forbes names just one Kentuckian to its annual billionaires list. She’s at No. 307 (opens in a new window)
- Public Storage Form 10-Q, Quarter Ended June 30, 2026 (opens in a new window)
- Public Storage Reports Third Quarter 2026 Results and Raises Guidance (opens in a new window)
- Public Storage - Officers & Trustees (opens in a new window)