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Malibu's Wealthy: Bradley Wayne Hughes
Bradley Wayne Hughes is one of Malibu's very successful businesspeople, with net worth estimated by Forbes as $3.2 billion in 2005. Hughes founded and built the company Public Storage Inc. starting in 1972 with one warehouse location. The Glendale-based company acquires, develops, owns and operates self-storage facilities at more than 1,000 locations in the United States and Canada. Building on that success, on March 7, 2006 Public Storage announced the acquisition of Shurgard Storage Centers, Inc. -- at a total transaction value of approximately $5.0 billion -- resulting in a combined total market capitalization of approximately $18 billion, with ownership interest in over 2,100 facilities in 38 states and seven European nations.
Additional interests include American Commercial Equities LLC, a Malibu-based investment firm of Public Storage Inc. And, through its affiliate, PS Business Parks, Public Storage has an investment in more than 120 commercial properties in 11 states with 10 million square feet of space.
His 13,000-square-foot Malibu home is located in the Serra Retreat neighborhood where he lives with his family. He continues to commute to Glendale, unusual for someone so mega-successful.
Hughes owns and breeds thoroughbred horses that race and win at the major tracks. At home in Malibu, he maintains 14 of his horses on their ten acre property. Other horses are spread among top trainers plus he keeps 16 broodmares at Three Chimneys Farm in Kentucky.
As an active philanthropist, Hughes and family support cancer research and treatment, especially children's leukemia. He donated $200 million to establish the Parker Hughes Cancer Center in St. Paul, MN, named for his late son.
In politics, Hughes made a $1 million contribution to California Gov. Schwarzenegger's election organization.
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