B. Wayne Hughes Sr., the co-founder self-storage real estate investment trust and management firm Public Storage Inc., is receiving the 2019 John W. Galbreath Award for outstanding entrepreneurship in the equine industry by the University of Louisville College of Business equine-industry program. With interests in horse racing, Hughes has owned Spendthrift Farm in Lexington, Ky., since 2004.
Hughes is credited with creating popular programs to encourage horse ownership and breeding. “B. Wayne Hughes helped shift the breeding-industry paradigm significantly in the last decade,” Sean Beirne, director of the college’s equine program, told the source. “He has not been afraid to rethink and experiment to lead the industry in a new direction.”
“Thoroughbred horse racing has been a tremendous passion of mine ever since my father took me to the races as a young boy. It’s something he and I got to share together, and I’ve been fortunate to be able to make it a large part of my life and share it with so many that are dear to me,” Hughes told the source. “There are few thrills greater than what horse racing can provide, and it is our responsibility to do a better job of improving this great sport so that future generations can enjoy it as much as John Galbreath did and as much as I have.”
The Galbreath Award has been given annually since 1990 to honor entrepreneurial leadership and positive impact on the equine industry. Galbreath was owner of Darby Dan Farm in Lexington and a former Churchill Downs chairman, according to the source.
Hughes will be honored during a dinner and award presentation on March 2 at the PNC Club inside the university’s football stadium.
Hughes and business partner Kenneth Volk Jr. opened their first Public Storage location in 1972. Hughes stepped down as company chair in 2011, but the family retains 14 percent of the company, according to a recent report.
Based in Glendale, Calif., Public Storage has interests in 2,468 self-storage facilities in 38 states, with approximately 167 million net rentable square feet.
The Lane Report, UofL Announces Winner of 2019 John W. Galbreath Award