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Times China Holdings Ltd. said it has reached an agreement in principle with a group of key creditors, ahead of the first court hearing in proceedings that could lead to the defaulted builder’s liquidation.
The New York State Gaming Facility Location Board said it expects to determine the winners of casino licenses in New York City and its surrounding suburbs by the end of 2025, according to a statement Friday.
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Aug 19, 2021
, Bloomberg News
(Bloomberg) -- B. Wayne Hughes, who made his fortune founding pioneering companies in two separate corners of the real estate world, died at home on Wednesday at his horse farm in Kentucky, according to a statement.
He was 87.
Hughes was the founder of Public Storage, the largest self-storage company in the world. He later founded American Homes 4 Rent, the third-largest single-family landlord, which owns roughly 55,000 rental houses. He amassed a fortune of $5.2 billion, according to the Bloomberg Billionaire Index.
Hughes was born in Gotebo, Oklahoma. The son of a sharecropper, he served as an officer in the U.S. Navy before graduating from the University of Southern California, where he later became a major donor.
He founded Public Storage in 1972 and spent the subsequent decades building a sprawling portfolio of mini-warehouses that catered to Americans’ growing need for a place to keep their excess stuff.
Hughes retired from the role of CEO and turned his attention to breeding horses. He purchased Spendthrift Farm in Lexington in 2004 and went on to win six Breeders Cup races. In 2020, his colt Authentic won the Kentucky Derby.
In 2011, as the foreclosure crisis rocked the U.S., Hughes founded American Homes 4 Rent, acquiring distressed properties and converting them into rentals.
He is survived by his wife Patricia, his son Wayne Jr., his daughter Tamara Gustavson as well as four grandchildren, according to the statement.
©2021 Bloomberg L.P.
