Early Life and Education
Tamara Hughes Gustavson was born in 1961 in the Los Angeles area. She is the daughter of B. Wayne Hughes, co-founder of Public Storage, and Marjorie McKechnie. Gustavson attended San Marino High School, graduating in 1979. She then pursued higher education at the University of Southern California (USC), where she was a member of the Pi Beta Phi sorority, graduating in 1983 with a Bachelor of Science in public affairs.
Rise to Success
Gustavson's professional journey began at Public Storage in 1983, shortly after her graduation from USC. She worked at the company for two decades, gaining experience and rising through the ranks to become Senior Vice President of Administration. She left the company in 2003, but her involvement didn't end there. In 2008, Gustavson rejoined Public Storage as a member of the board of trustees, leveraging her extensive experience to contribute to the company's growth. As of 2022, she remains the largest shareholder, with an 11% stake in the company.
Key Business Strategies
Gustavson's primary source of wealth is her ownership stake in Public Storage, a leading player in the self-storage industry. She has also diversified her investments, including a 6% stake in American Homes 4 Rent and ownership of 66 self-storage facilities in Canada. Additionally, Gustavson co-owns and operates Spendthrift Farm, a renowned Thoroughbred horse breeding and racing operation in Kentucky, which she inherited from her father.
Philanthropy
Tamara Gustavson is actively involved in philanthropy, notably through the William Lawrence & Blanche Hughes Foundation, which focuses on supporting childhood leukemia research and treatment. The foundation has made significant donations, including a $50 million gift to Seattle Children's Hospital in 2024. She also served on the University of Southern California's Board of Trustees from 2010 to 2020, supporting educational initiatives.