In 2005, Hughes Jr. founded American Commercial Equities. The firm is based in Malibu, California, and focuses on the management and acquisition of prime real estate properties in California and Hawaii. According to Forbes rankings of The World’s Billionaires 2018, Hughes Jr.’s estimated net worth is $1.25 billion (as of March 2018).

In 2013, Hughes Jr. established Serving California. The mission of the foundation is to aid victims of crime and hardship, rehabilitate ex-offenders, and assist veterans impacted by PTSD.

Hughes Jr. donated $1.2 million to California Proposition 47 (2014), focused on sentencing reform, which California voters passed in November 2014. The bill reduces certain drug possession felonies to misdemeanors. During the campaign he stated, “When [Prop 47] passes … the next place for parties to come together are issues around mental health. I’m doing what I’m doing and I’m not going to quit. It’s fun helping people.”

Hughes Jr. is a member of the organization Right on Crime, a nationwide initiative to drive criminal justice reform. On June 15, 2014, Hughes Jr. spoke at TEDx at Ironwood State Prison about the need for change in the country’s prison system.

During the 2016 presidential election, Hughes donated $117,000 to the campaign of Libertarian Gary Johnson.