Net Worth Ranker
What Is Jeanie Buss’ Net Worth?
Jeanie Marie Buss, a prominent figure in the world of sports management, boasts a net worth of $700 million. This substantial wealth is largely attributed to her role as the President and controlling owner of the Los Angeles Lakers, one of the most valuable franchises in the National Basketball Association (NBA). Her journey to this position began under the tutelage of her father, the late Jerry Buss, who transformed the Lakers into a global brand.
Lakers Ownership and Valuation
Upon Jerry Buss’s passing in 2013, Jeanie and her five siblings inherited his 66% stake in the Lakers. This meant each sibling initially held approximately an 11% share of the team. In 2017, a pivotal moment arrived when the siblings entrusted Jeanie with 100% control over the Lakers’ decisions, solidifying her leadership. Despite this shift in management authority, each sibling continues to maintain their equal 11% ownership stake in the franchise. Given the Lakers’ current valuation of around $6.5 billion, each of these 11% stakes is worth approximately $715 million. This valuation is based on recent transactions in the sports world, such as the late 2022 sale of the Phoenix Suns at a $4 billion valuation, indicating a potential for even higher valuation of the Lakers.
Beyond the Buss family, other significant stakeholders in the Lakers include Mark Walter and Todd Boehly, who together hold a 26% ownership stake. Walter and Boehly, co-founders of prominent private equity firms Guggenheim Partners and Eldridge, respectively, acquired their shares from AEG founder Phil Anschutz. Additionally, Ed Roski, a billionaire real estate developer with a portfolio of around 90 million square feet of commercial property in the US, owns an 8% stake in the Lakers, acquired in 1998.
In 2017, a power struggle emerged when Jeanie’s brother Johnny attempted to wrest control of the Lakers from her. However, this attempt ultimately failed, resulting in Jeanie solidifying her control over the team. As the controlling owner, she represents the Lakers on the NBA’s Board of Governors, further cementing her influence within the league.
Early Career and Education
Born on September 26, 1961, in Santa Monica, California, Jeanie Marie Buss grew up alongside her three siblings in a family environment that would soon be deeply intertwined with the world of sports and entertainment. Her father, Jerry Buss, initially found success in the real estate sector during the 1960s, starting with an investment in a West Los Angeles apartment building. Jerry’s real estate ventures flourished, leading him to form Mariani-Buss Associates, a real estate investment company, with his business partner Frank Mariani.
During her formative years, Jeanie witnessed her father’s rise in the business world and the acquisition of several sports teams in the Los Angeles area, including the Los Angeles Strings tennis team, the Los Angeles Kings hockey team, and the Los Angeles Lakers basketball team. At the age of 14, Jeanie began attending World Team Tennis meetings with Jerry, gaining valuable insights into sports management. By the age of 17, she had chosen to live with her father full-time, further immersing herself in the world of sports and business. While Jerry eventually sold his controlling interest in the Kings, he maintained a strong focus on managing the Lakers.
As part of his sports-related acquisitions, Jerry Buss also purchased The Forum for $67.5 million. Under his ownership, the Lakers achieved remarkable success, winning ten championships with a roster of all-star players, including James Worthy, Magic Johnson, Shaquille O’Neal, and Kobe Bryant. Jerry’s strategic vision and investments played a pivotal role in transforming the Lakers into a franchise worth $1 billion.
While learning from her father, Jeanie pursued her education, enrolling at the University of Southern California. She excelled in her studies, eventually graduating with honors after majoring in business. During her college years, Jerry appointed the 19-year-old Jeanie as the general manager of the Los Angeles Strings, providing her with hands-on experience in sports management.
After her tenure with the Los Angeles Strings, Jeanie became the owner of the Los Angeles Blades in Roller Hockey International. She subsequently spent four years as the president of the Great Western Forum, the Lakers’ home arena at the time. Her success in these roles demonstrated her business acumen to Jerry, who envisioned her taking over the business side of the Lakers while her brother Jim handled the sports-related decisions. By 2005, she had established herself as one of the most influential women in the sports industry. Following Jerry’s passing in 2013, Jeanie took decisive action by firing both General Manager Mitch Kupchak and her brother Jim, who was then serving as VP of Basketball Operations.
Career Milestones and Achievements
Jeanie Buss’s career is marked by a series of notable milestones and achievements. At the young age of 19, she became the general manager of the Los Angeles Strings, a professional tennis team. This early experience provided her with a foundation in sports management and business operations.
Later, she became the owner of a roller hockey team called the Los Angeles Blades, demonstrating her entrepreneurial spirit and willingness to venture into different sports. Her tenure as president of the Great Western Forum further solidified her reputation as a capable and effective leader. Her transition to vice president of the Lakers marked a significant step in her career, paving the way for her eventual role as President and controlling owner of the team.
In 2023, Jeanie Buss received a Sports Emmy Award as the executive producer of “Legacy: The True Story of the LA Lakers.” This recognition highlights her involvement in the entertainment side of the sports industry and her commitment to telling the story of the Lakers franchise.
One of the most crucial milestones in Jeanie’s career was taking 100% control over the Lakers’ decisions in 2017. This move solidified her position as the leader of the organization and allowed her to implement her vision for the team.
The Lakers franchise’s estimated worth of $6.5 billion also stands as a testament to Jeanie Buss’s leadership and business acumen. Under her guidance, the Lakers have maintained their status as one of the most valuable and successful teams in the NBA.
Real Estate Portfolio
Jeanie Buss has been involved in several real estate transactions over the years. In 2019, she sold her home in Playa Vista for $2.575 million. She had originally purchased the property for $2.45 million back in 2017. The house, spanning almost 3,200 square feet, featured a flagstone patio, French doors, and a three-car garage.
Buss reportedly owns another property in Playa Vista, a four-bedroom condo that she purchased in 2018. In 2020, she acquired a new property in the Playa del Rey neighborhood of Los Angeles for $2.6 million. This waterfront residence, located within the Breakers complex, a gated community, features a pool, a spa, and a gym. The 2,200-square-foot home is conveniently located near Los Angeles International Airport.
Personal Life
Jeanie Buss’s personal life has been subject to public interest. She married professional volleyball player Steve Timmons in 1990, but they divorced three years later. She explained that her career took precedence over her marriage at the time.
In late 1999, Jeanie began dating Phil Jackson, the former head coach of the Lakers. Although they were engaged, they never married and announced their split in 2016. In 2017, Jeanie started dating comedian Jay Mohr, and they announced their engagement in December 2022. They married in Malibu in September 2023.
Jeanie Buss posed nude for “Playboy” magazine in 1995, a decision that generated considerable attention.
These details from Jeanie Buss’s personal life provide insights into her relationships, decisions, and experiences outside of her professional career.
