9. TAMARA HUGHES GUSTAVSON
THE MONEY: Gustavson, with 11 percent of shares, is the largest individual shareholder in Glendale self-storage giant Public Storage Co. The company saw its share price fall 15 percent from its stratospheric level of a year ago. The value of her retail real estate portfolio increased only slightly as woes have gripped the retail sector. She continued to up her stake in American Homes 4 Rent, a real estate investment trust founded by her father.
THE BUZZ: Despite slippage in net worth, Gustavson is still L.A.’s richest woman thanks to shares in Public Storage. In recent years, she has focused on American Commercial Equities Management, a private real estate investment firm started by her brother,
B. Wayne Hughes Jr. Its portfolio holds more than 80 retail and mixed-use properties in Central and Southern California and Honolulu. She was elected last year to the board of American Homes 4 Rent, a REIT focused on single-family home rentals. Elected to the board of her alma mater, USC, she is a close friend of university President Max Nikias (left). A Republican donor and Donald Trump supporter, she has two children with her husband, Eric. The couple lives in Malibu’s Escondido Beach.
NET WORTH: $5.06 billion (-7.8%)
LAST YEAR: $5.49 billion
SOURCE OF WEALTH: Inheritance, real estate