Lexington, KY

The richest person in Lexington

Ash Jurberg

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This month I have been running a series of popular articles looking at the richest people in major cities across the United States. Today we look at the wealthiest person in Lexington. Not only how she made her fortune but also how she has used their wealth to help others.

The richest person in Lexington

The richest person in Lexington, Kentucky, is Tamara Hughes Gustavson. She has a net worth of $8.4 billion.

Her fortune comes thanks to her father, B. Wayne Hughes, who co-founded Public Storage in 1972. Tamara joined the firm in 1983, eventually becoming vice president of the company before leaving in 2003 to raise her children.

Public Storage had $3.6 billion in revenue in 2020 across its 2,880 self-storage locations worldwide. Tamara owns 11% of the company and is a major shareholder along with her brother. Unfortunately, Hughes passed away in August last year.

Gustavson currently lives on Spendthrift Farm, a thoroughbred racehorse breeding farm in Lexington.

Philanthropy

Readers often ask me what good these billionaires do with their fortune, so I like to research their charitable efforts.

Gustavson is a dedicated philanthropist and a strong supporter of charitable and community organizations, focusing on education, health care, and medical research. For several years she served on the board of directors of the USC-CHLA Institute for Pediatric Clinical Research, which focuses on clinical research leading to improved health for children.

Gustavson is a regular donor to the HollyRod Foundation, which researches autism, Parkinson's, and other diseases.

Before his death, Hughes Senior founded the Parker Hughes Cancer Center in Minnesota, which researches to develop drugs and treatment for leukemia and cancer children. He also made an anonymous donation to the University of Southern California of $400 million, which was only made public when the LA Times found out and reported it.

Readers, have any of you met Gustavson or Hughes? What was your impression?

Please leave your comments below.

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