$3.56 billion 24%
LAST YEAR: $2.87 billion*
SOURCE OF WEALTH: Inheritance
THE MONEY: Largest shareholder of self-storage giant Public Storage Co. with 12 percent of shares; benefitted from more than 18 percent rise in share price. Value of real estate investment trust portfolio also increased, as did value of Malibu properties.
BUZZ: Transfer of shares in Public Storage from father, 79-year-old company founder B. Wayne Hughes, to Gustavson and brother, B. Wayne Hughes Jr., mostly complete. She has kept very low profile, rarely appearing in public. Spent most of adult life in various management positions at Public Storage, rising to senior vice president of administration before leaving to focus on other endeavors. In recent years has focused on running American Commercial Equities Management, a private real estate investment firm started by brother. ACEM’s portfolio, estimated to be worth more than $600 million, includes more than 80 retail and mixed-use properties in Central and Southern California as well as Honolulu. Elected to USC Board of Trustees in 2010; earned bachelor of science in public affairs from school in 1983. Close friend of USC President Max Nikias; joined him on cycling vacation in Sun Valley, Idaho, last summer. Husband, Eric, is an actor and producer whose credits include “Baywatch,” “Will & Grace” and “Northern Exposure.” Couple has two children and live in Escondido Beach section of Malibu. Gustavsons involved in HollyRod Foundation that helps people with autism and Parkinson’s disease; she has also supported K-12 schools in Malibu and Westlake Village. Made modest political contributions last year to National Rifle Association and campaign of Republican Nevada Sen. Dean Heller.
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