What People Do Not Know About Public Storage And Wayne Hughes-Co-Founder Of Public Storage |
Posted: February 28, 2019 |
The story of the Public Storage will not be complete without the mention of the founding fathers. One of them Wayne Hughes is part of our focus in this article. We want to look into his life outside being the co-founder of the public storage for which he is now globally acknowledged. We feel it will be worthwhile if you know the other side of this icon outside his exploits in public storage Miami. Escape From Dust Bowl Do you know that his family was once almost devastated by Dust Bowl in Oklahoma? Hughes moved along his family from Oklahoma to Southern California. There was a massive drought that decimated parts of the United States in the 1930s. Was his first name Wayne? His first name was not actually Wayne. He was born Bradley Wayne Hughes. Often times, he was identified by his first initial: B. Wayne Hughes. What was Wayne Hughes’ first job? His first job was paper route. He started with this job at the age of 10. He started delivering papers for Los Angeles Herald-Express at that tender age of 10. What is the net worth of Wayne Hughes? It might interest you to know that the net worth of Wayne is in the neighborhood of $2.6 billion. According to the starts from Forbes, Hughes is numbered among the 400 richest people in the US. His successes have robbed on his son and daughter. His daughter, Tamara Hughes Gustavson, as well as his son B. Wayne Hughes Jr., are both billionaires. That represents the aura he has even in his immediate family. His daughter and son owe their emergence in business to the influence of their father upon them. The company officially became a publicly traded REIT with the merger with its acquisition arm, Storage Equities, in 1995. REIT is a real estate investment trust, it is a company that owns/operates income-producing real estate. It meets a variety of regulatory guidelines. The company joined the S&P 500 in 2005. This is the index of the 500 largest publicly traded companies. In 2006, Public Storage paid the amount of $5.5 billion to take over Shurgard, a storage operator that has 624 facilities in the United States and Europe. Public Storage was successful only in their 3rd attempt to acquire Shurgard. Public Storage owns all the self-storage facilities in Europe. Public Storage renamed Shurgard’s facilities in the United States, but it still maintains the name in Europe. As of December 31, 2017 Public Storage has 222 facilities in Europe. They are in the following seven countries: Belgium Denmark France Germany Netherlands Sweden United Kingdom. The biggest presence of Public Storage is in California The company has 426 self-storage facilities in California as of December 31, 2017. The next biggest market is Texas which has 297 facilities, Florida follows with 285 facilities. Public Storage are the proud owners lots of office business parks. Public Storage are the owners of PS Office Parks, Inc. It operates 98 office parks in the United States. The idea behind painting the storage unit doors orange was to draw the attention of people to the facility. So, when a customer drives along the nearest road; he will be forced to take note of the orange attractions on the doors. It is more of a business tactics, it has really worked and is still working for public storage Miami.
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