Many billionaire donors to the University of Southern California have given huge financial gifts in exchange for serving as the namesake for some wing of the campus, but a more discreet donor's gifts to the school were given anonymously, according to a recent report in the Los Angeles Times. And he’s only anonymous on a technicality now, because his name is B. Wayne Hughes Sr.
Billionaire Hughes is the founder of self-storage company Public Storage, and he’s reportedly given some $400 million to USC, almost all of it on an anonymous basis, which is all the more unusual, given that the figure places Hughes "among the most significant backers of higher education in the West."
So why has he done it? According to the 85-year-old's attorney, he’s "intentionally chosen to live his life in a way that he avoids the spotlight," a rare phenomenon among big-ticket philanthropic billionaires. Hughes founded Public Storage in 1972, resulting in his massive personal fortune, but he reportedly maintained a solidly middle-class lifestyle, "eating fast food and hanging out with buddies at the Santa Anita racetrack." He’s also maintained strong ties to his alma mater at USC, not just making numerous financial contributions but also returning to the campus many times.
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The bulk of Hughes' gifts came between 2010 and 2015, during which he gave a total of $360 million to the university, with many of his donations being focused on the school’s various athletics programs. In one particularly striking example of his desire to keep his name off of these donations, he paid $5 million to name the USC basketball court Jim Sterkel Court, after an otherwise obscure member of the school’s team way back in the 1950s, which even Sterkel’s widow didn’t know about in 2006 when the court opened. The then-anonymous donor, which is now reported to have been Hughes, explained why like this:
"The joy I have in remembering Jim would be significantly reduced if people knew who I was."
That seems to reflect his overall attitude toward his philanthropy, as well.
Table of Contents
- Biography of B. Wayne Hughes Sr.
- Philanthropic Efforts and Contributions
- Personal Life and Lifestyle Choices
- Legacy and Impact on USC
Biography of B. Wayne Hughes Sr.
B. Wayne Hughes Sr. has made a remarkable impact in the world of philanthropy, especially within the realm of higher education. Born in 1933, Hughes built his fortune as the founder of Public Storage, which revolutionized the self-storage industry. His business acumen and foresight in establishing this company have not only led to his wealth but also positioned him as a significant benefactor for institutions like the University of Southern California.
His commitment to philanthropy is notable, as he has chosen to remain largely out of the public eye while making substantial donations. Hughes is known for his humility and is described by those close to him as someone who prefers to let his actions speak for themselves, rather than seeking recognition or accolades.
| Personal Detail | Information |
|---|---|
| Name | B. Wayne Hughes Sr. |
| Born | 1933 |
| Company Founded | Public Storage |
| Total Donations to USC | Approximately $400 million |
| Donation Period | 2010 - 2015 |
Philanthropic Efforts and Contributions
Hughes’ philanthropic journey is characterized by his substantial contributions to USC, where he has provided funding for various programs, particularly in athletics. His donations are not just significant in amount but also in their impact, as they help enhance the university's facilities and support its student-athletes.
Between 2010 and 2015, Hughes contributed a staggering $360 million to the university. This generous support has allowed USC to maintain its reputation as a leading institution in higher education, particularly in sports. Hughes' decision to remain anonymous with most of his donations exemplifies his desire to keep the focus on the cause rather than on himself.
Personal Life and Lifestyle Choices
B. Wayne Hughes Sr. leads a life that contrasts sharply with the typical image of a billionaire. Despite his immense wealth, he has chosen to adopt a humble lifestyle, often described as middle-class. He is known for enjoying simple pleasures like eating fast food and spending time with friends at local racetracks.
This grounding influence in his life speaks volumes about his character. Hughes values friendships and community over lavish displays of wealth, which reflects his overall approach to philanthropy as well.
Legacy and Impact on USC
The legacy of B. Wayne Hughes Sr. at USC is not just about the money he donated, but about the values he embodies. His commitment to anonymity in philanthropy sets a powerful example for future generations of donors. His belief that the joy of giving should remain personal and unrecognized is a refreshing take in an age where many seek public acknowledgment for their contributions.
Hughes’ impact on USC is profound, as his financial support has helped the university not only thrive but also continue to attract talent in academics and athletics alike. His story inspires other philanthropists to consider the true purpose of giving, emphasizing that sometimes, the best gift is the one given without seeking recognition.
