Billionaire Wayne Hughes Made a GENEROUS Donation to USC University for This Special Reason
Southern Cal, better known as USC, has had its fair share of generous donations over the years. Most billionaire donors give these financial gifts to the private research university in exchange of being immortalized by the institution, mostly with something on its grounds being named after them.
However, there is one particular billionaire who sends in his donations anonymously. But since we now know of his identity already, he is technically no longer an anonymous donor, right?
The man is one Bradley Wayne Hughes, founder and chairman of Public Storage and an alumnus of the university. Thanks to his self-storage company, the businessman has made smart moves in the real estate industry that have translated to a net worth of $2.6 billion as of March 2018.
$400 Million Donation
Thankfully, B. Wayne Hughes has used his accumulated wealth to fund causes he holds dear, with higher education being one of them. To this end, the magnate has donated up to $400 million to USC over the years, sending in each installment anonymously.
The LA Times was able to unmask his secret, and his contributions effectively rank the Public Storage chairman high in the list of individuals who have significantly backed higher education in the Western world.
So, in a world where generous givers prefer to be recognized for their actions, why then is B. Wayne Hughes not choosing this route? According to the entrepreneur’s attorney, his client intentionally chooses to avoid drawing too much attention to himself. This is rare in philanthropists, don’t you agree?
But Hughes has been like this all his life. Even after founding Public Storage way back in 1972 and the company hitting it big, the man continued leading a middle-class life, despite being worth a fortune. He continued to eat at the fast-food joints he used to frequent and didn’t alienate his friends.
The other thing that he also never let go of was his relationship with Southern Cal. In addition to his many donations, Hughes has also been back to USC multiple times and has strong ties with the institution’s administration. Why wouldn’t he, when he is most definitely one of their most successful graduates?
A Liking to Sports
By the way, did you know that the chairman has a particular liking to sports? A huge portion of his USC donations has been towards the university’s sports and athletics programs. And just to put the man’s need for anonymity into context, Hughes donated $5 million towards the naming of the university’s basketball court to the Jimmy Sterkel Court back in 2006.
Jimmy Sterkel was a member of USC’s b. ball team back in the 1950s, one who Hughes fondly remembers. To keep his name from the donation, he claimed that the joy in which he remembers the player would be reduced if people were ever to know that it was, he who sent in the donation.
Not even Sterkel’s widow knew who made the moving gesture in honor of her late husband, but she must have been touched. It’s not every day a stranger honor your loved one now, is it? Thanks to the LA Times, however, she now knows who to thank for everything.
More in Bank Stories
Scarlett Johansson’s MASSIVE Marvel Paycheck Shows Closing Pay Gap in Hollywood
For the past decade, the Marvel Cinematic Universe has kept us thoroughly entertained, and there are no signs of them slowing...November 25, 2020
The Maldives has a Program that’ll Reward You for Traveling There–Here’s How it Works
While there are many destinations that have opened up their doors once again for leisure travelers, it seems like the number...November 25, 2020
Why Single Ladies Have Less Debt Than Single Men
When is being indebted to people ever a good thing? Don’t answer that, it is a trick question. The answer is...November 17, 2020
5 Habits of Self-Made Millionaires That Allow Them to Retire in Their 20’s
Many of us dream of retiring a millionaire or at least earlier than normal. There’s a growing segment of people that...November 10, 2020
You Can Stay at These Marilyn Monroe or Howard Hughes-Inspired Bungalows for $8500/Night
If there is one hotel which the A-list celebrities of Hollywood just love to visit, it is the Beverly Hills Hotel....November 4, 2020
Count on the Duggars for an Amazing Renovation as They List a Mansion for $1.8 Million
Anyone who loves reality TV show knows who the Duggar family is. Jim Bob and his wife Michelle Duggar became household...November 4, 2020
Five Questions You Need to Ask Yourself Before Choosing a Business Bank Account
Having a business bank account is something that is required by the Internal Revenue Service (IRS) for all incorporated businesses. What’s...October 27, 2020
Biggest Financial Mistakes People Make that Lead to Debt, And How You Can Avoid Them
To come off as a responsible adult, you have to demonstrate that you can convincingly handle your finances. What’s that thing...October 27, 2020
This is How Johnny Depp Spends $2 Million a Month On His Lavish Lifestyle
According to the former business manager of Johnny Depp, the actor spends extravagantly to support his lavish lifestyle, requiring a monthly...October 20, 2020