B. Wayne Hughes

B. Wayne Hughes Brief Biography

Bradley Wayne Hughes (born September 28, 1933 in Gotebo, Oklahoma) is the founder and chairman of Public Storage, the largest self-storage company in America doing business as a REIT or real estate investment trust that pays no federal income tax under current U.S. tax law. As of 2010, Hughes is worth $3.9 billion. Known all his life by his middle name, B. Wayne Hughes was the company's President and Co-Chief Executive Officer from 1980 until November 1991 when he became Chairman of the Board and sole Chief Executive Officer. He retired as Chief Executive Officer in November 2002 and remains Chairman of the Board. He was Chairman of the Board and Chief Executive Officer from 1990 until March 1998 of Public Storage Properties XI, Inc., which was renamed PS Business Parks, Inc. ("PSB"), an affiliated REIT. From 1989-90 until the respective dates of merger, he was Chairman of the Board and Chief Executive Officer of 18 affiliated REITs that were merged into the Company between September 1994 and May 1998 (collectively, the "Merged Public Storage REITs"). B. Wayne Hughes has been active in the real estate investment field for over 30 years.

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