Jeanie Buss is a big name in the American sports sector as a sports executive who has achieved a lot of success in her career. Her family has been involved in the company for a long time, and Jerry Buss is well-known for owning multiple large corporations as well as the Los Angeles Lakers of the National Basketball Association. Jeanie Buss is the current president and controlling owner of the Los Angeles Lakers.
Jeanie began her career in 1981 when her father owned the Los Angeles Strings tennis team, of which she was appointed manager. After some time in the industry, Jeanie Buss purchased the Los Angeles Blades, a roller hockey team.
After his father died in 2013, Jeanie and his siblings received a portion of his father’s business. She later became the president of the Los Angeles Lakers, and in 2020, she became the NBA’s first female owner to win a championship.
This article looks into Jeanie Buss’ net worth and success, as well as how she became a business magnate.
What is Jeanie Buss’ Net Worth?
American sports executive Jeanie Buss has a $700 million net worth. Jerry Buss, the late owner of the Los Angeles Lakers, is the father of Jeanie Buss. At the moment, she is the team’s controlling owner and president.
After Jerry passed away in 2013, Jeanie and her five siblings received Jerry’s 66% ownership stake in the Lakers. Even though they each still have an equal 11% ownership stake in the Lakers, the siblings granted Jeanie complete power over franchise decisions in 2017. Each 11% stake is valued at around $715 million based on the team’s current $6.5 billion valuation.
At the age of 19, Jeanie Buss started her career as general manager of the Los Angeles Strings, a professional tennis team. She went on to become the president of the Great Western Forum after purchasing the Los Angeles Blades roller hockey team. After her father passed away, she was appointed vice president of the Lakers.
In addition, she co-owns Women of Wrestling and promotes the organization (WOW). “Legacy: The True Story of the LA Lakers” executive producer Jeanie Buss was awarded a 2023 Sports Emmy Award.
Below are links to earlier postings about other celebrities’ net worth:
- Jesse Watters Net Worth: Salary, Real Estate and Controversies
- Travis Bagent Net Worth: Exploring His Impressive Income!
Jeanie Buss Lakers Ownership Stake
A family trust that owns 66% of the Lakers was left to Jerry Buss’s six children upon his death in 2013. By extension, every child owns approximately 11% of the Lakers.
It’s not out of the question that the Lakers might be valued at a conservative $5 billion, especially in light of the fact that the Phoenix Suns sold in late 2022 for a $4 billion valuation. Thus, the 11% interest held by each child is around $550 million.
Jeanie Buss Real Estate
Buss sold her Playa Vista property for $2.575 million in 2019. She originally paid $2.45 million for the property in 2017. Despite the fact that the house was originally listed for $225,000 higher than the final selling price, she agreed to the price reduction. Having said that, Buss did put some effort into the property after purchasing it two years before in order to make it a more appealing proposition for prospective buyers.
Before re-listing the home, a fresh coat of neutral paint and new fixtures were used to freshen it up. Her former Playa Vista home has over 3,200 square feet of living area and is located on a corner property. A flagstone patio, French doors, and a three-car garage are all included. Buss apparently has another property in Playa Vista as well, which she supposedly purchased in 2018.
Jeanie purchased a new home in Los Angeles’ Playa del Rey district in 2020. She spent $2.6 million on the home, which is conveniently located near Los Angeles International Airport. A pool, spa, and gym are among the notable amenities of the four-bedroom coastal property.
The 2,200-square-foot property is also part of the Breakers complex, a gated neighborhood in Playa del Rey. Although Buss had previously owned a number of residences in the Los Angeles region, this was her first waterfront residence.
Jeanie Buss Early Life and Family
Jeanie Marie Buss was born in Santa Monica on 26 Sept.1961. Jeanie was little when her father became successful in real estate. She was raised by Joann and Jerry Buss with three siblings. Jerry bought a West Los Angeles apartment building in the 1960s. This led the physical chemistry Ph.D. graduate to profitable real estate endeavors. Jerry Buss and Frank Mariani founded the real estate investment firm Mariani-Buss Associates.
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After Jerry divorced Joann, Joanie had major emotional troubles. She remained close to her father. Jerry bought several Los Angeles sports franchises during this period. The Los Angeles Strings, Kings, and Lakers were examples. At 14, she attended World Team Tennis meetings with Jerry and learned many lessons she would later use to manage the Los Angeles Strings. She moved in with her father full-time aged 17.
Jerry sold his majority interest in the Kings but focused on managing the Lakers. Buss bought The Forum for $67.5 million to continue his sports-related purchases. Buss’ Lakers won 10 titles and had an all-star team with James Worthy, Magic Johnson, Shaquille O’Neal, and Kobe Bryant. Jerry helped the Lakers become a $1 billion franchise.
Jeanie Buss Career
Jeanie went to college while learning business and sports management from her father. She majored in business at USC and graduated with honors. Jerry named 19-year-old Jeanie Los Angeles Strings manager during college. After buying the Los Angeles Blades in Roller Hockey International, Jeanie was the Great Western Forum’s president for four years.
Jerry decided to let her run the Lakers’ business while her brother Jim made sporting decisions after she had proven her financial acumen. One of the sports’ most prominent women by 2005. After Jerry’s death in 2013, Buss fired General Manager Mitch Kupchak and her brother Jim, VP of Basketball Operations.
Below are links to earlier postings about other celebrities’ net worth:
- Joe Manchin Net Worth: The Business Ventures That Built His Wealth
- Josh Richards Net Worth: From TikTok Stardom to Multimillion-Dollar Success
Jeanie Buss Personal Life
In 1990, Jeanie married professional volleyball player Steve Timmons. They divorced three years later, with her saying that she prioritized her job over her marriage. In late 1999, Jeanie began dating Phil Jackson, the former head coach of the Los Angeles Lakers. They never married and announced their divorce in 2016.
Jeanie began dating comedian Jay Mohr in 2017. In December 2022, they announced their engagement. In September 2023, they will marry in Malibu, California. In 1995, Jeanie posed naked for Playboy magazine.
In conclusion, Jeanie Buss, a well-known sports executive, has weathered a turbulent career with amazing accomplishments. She is not just a major player in American sports but also a business magnate as the current president and controlling owner of the Los Angeles Lakers. Her Lakers ownership stake and real estate activities help to contribute to her $700 million net worth. Jeanie’s legacy includes her role in Women of Wrestling and a Sports Emmy Award.