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AP National Business

Wayne Hughes, billionaire businessman and horse owner, dies

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Published 9:55 PM

By BETH HARRIS
AP Racing Writer

LOS ANGELES (AP) — The founder and chairman of Public Storage has died. B. Wayne Hughes died at home in Lexington, Kentucky, at his Spendthrift Farm. He was 87. His colt, Authentic, won the 2020 Kentucky Derby and Breeders’ Cup Classic. Hughes purchased the historic 700-acre farm in 2004 and relocated from Southern California to restore its name and land, returning Spendthrift to prominence as a commercial breeding operation. Hughes graduated from the University of Southern California and was inducted into the school’s Athletic Hall of Fame in 2012.

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