Lexington, Kentucky, October 13, 2025
News Summary
Tamara Gustavson has been recognized as Kentucky’s richest person with a net worth of $8.5 billion, ranking her 367th globally. As the largest shareholder of Public Storage and co-owner of Spendthrift Farm, her financial accomplishments reflect both her legacy and the booming self-storage market, especially during the COVID-19 pandemic. Gustavson continues her father’s legacy in the self-storage industry and thoroughbred racing, producing 10 Kentucky Derby winners. Additionally, she supports childhood leukemia research through her involvement with the William Lawrence & Blanche Hughes Foundation.
Lexington, Kentucky – Tamara Gustavson has been recognized as the richest person in Kentucky, boasting a net worth of $8.5 billion according to Forbes. This annual accolade highlights Gustavson’s notable financial success, placing her as the 367th richest person in the world.
Gustavson is notably the daughter of the late B. Wayne Hughes, a distinguished figure in the self-storage industry, who passed away in 2021. Her father’s legacy continues through her substantial stake in Public Storage, where she serves as the largest shareholder with 10% ownership. Gustavson’s career at Public Storage began in 1983 and lasted until 2003, and she has been a board member since 2008.
In addition to her investments in the self-storage sector, Gustavson co-owns Spendthrift Farm, a prestigious horse breeding company located in Lexington. This farm has gained recognition for producing 10 Kentucky Derby winners and operates under a name linked to the legendary racehorse Man-O-War, who is famed for his exceptional racing record, having lost only one out of 21 races.
The fair market value of Spendthrift Farm stands at approximately $9.9 million, with Fayette County property records identifying the farm’s property valued at $2.54 million. Gustavson’s wealth has seen a significant increase from over $7 billion last year, a surge attributed largely to the heightened demand for self-storage solutions during the COVID-19 pandemic.
Forbes includes her in its annual list of the 400 richest Americans, recognizing her alongside other billionaires from the state of Indiana. Additionally, Gustavson serves as a director for the William Lawrence & Blanche Hughes Foundation, which emphasizes research into childhood acute lymphocytic leukemia.
Background Context
Gustavson’s financial journey reflects a robust legacy left behind by her father, B. Wayne Hughes, a magnate whose business ventures established him as a pioneer in the self-storage industry. After his death, Gustavson took prominent roles in his businesses, continuing to expand their influence and profitability. The increasing popularity of self-storage facilities, especially seen during the pandemic when many sought extra space for their belongings, provided a boost to her finances.
The self-storage market has become a cornerstone of effective asset management, generating consistent revenue growth. This has played a crucial role in Gustavson ascending in the ranks of the wealthiest individuals in the nation.
Financial Achievements
- Net worth: $8.5 billion
- Rank: 367th richest person in the world
- Stake in Public Storage: 10%
- Spendthrift Farm value: $9.9 million
- Household name in horse breeding with 10 Kentucky Derby winners
- Director of the William Lawrence & Blanche Hughes Foundation
Conclusion
Tamara Gustavson represents a formidable force in Kentucky’s economic landscape, bridging the worlds of real estate and thoroughbred racing while carrying on her father’s influential legacy. Her ascent among the wealthiest in Kentucky is indicative of both her personal business acumen and the lucrative nature of the self-storage market.
FAQ
Who is Tamara Gustavson?
Tamara Gustavson is the richest person in Kentucky with a net worth of $8.5 billion and a co-owner of Spendthrift Farm.
What is Spendthrift Farm?
Spendthrift Farm is a prestigious horse farm located in Lexington, Kentucky, known for producing 10 Kentucky Derby winners.
How did Tamara Gustavson earn her wealth?
Gustavson earned her wealth primarily through her significant stake in Public Storage and the success of Spendthrift Farm.
What was the impact of the COVID-19 pandemic on her wealth?
The pandemic heightened demand for self-storage solutions, which contributed to a significant increase in Gustavson’s net worth.
What foundation does Tamara Gustavson support?
She is a director of the William Lawrence & Blanche Hughes Foundation, focusing on research related to childhood acute lymphocytic leukemia.
Key Features of Tamara Gustavson’s Profile
| Feature | Details |
|---|---|
| Net Worth | $8.5 billion |
| Public Storage Stake | 10% |
| Spendthrift Farm Value | $9.9 million |
| Kentucky Derby Winners Produced | 10 |
| Foundation | William Lawrence & Blanche Hughes Foundation |
Deeper Dive: News & Info About This Topic
HERE Resources
Additional Resources
- WBKR: Richest Person in Kentucky
- Kentucky.com: Kentucky News
- Stacker: Richest Billionaires in Kentucky
- WHAS11: Kentucky and Indiana Billionaires
- SuperYachtFan: Tamara Gustavson
- Wikipedia: Tamara Gustavson
- Google Search: Tamara Gustavson
- Google Scholar: Tamara Gustavson
- Encyclopedia Britannica: Tamara Gustavson
- Google News: Tamara Gustavson
Author: STAFF HERE LEXINGTON KY STAFF
The LEXINGTON STAFF WRITER represents the experienced team at HERELexingtonKY.com, your go-to source for actionable local news and information in Lexington, Fayette County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Woodland Art Fair, Crave Food and Music Festival, and Railbird Festival. Our coverage extends to key organizations like Commerce Lexington and Blue Grass Community Foundation, plus leading businesses in education, manufacturing, and technology that power the local economy such as University of Kentucky, Toyota Motor Manufacturing, and Lexmark. As part of the broader HERE network, including HEREBowlingGreen.com and HERELouisville.com, we provide comprehensive, credible insights into Kentucky's dynamic landscape.
