Net Worth Ranker
What Is Jerry Buss’ Net Worth?
At the time of his death on February 18, 2013, Dr. Jerry Buss, the celebrated owner of the Los Angeles Lakers, had a net worth of $700 million. This fortune was primarily built through his early success in real estate and significantly augmented by his ownership of various sports franchises, most notably the Lakers.
The Composition of Jerry Buss’ Net Worth
Jerry Buss’ wealth wasn’t solely derived from the Lakers. His initial financial success stemmed from strategic real estate investments in the Los Angeles area. Before venturing into sports, Buss earned a Ph.D. in chemistry from the University of Southern California (USC) and initially worked as a chemist and in the aerospace industry. He later became a faculty member at USC’s chemistry department, using real estate investments to supplement his income. This eventually led him to focus entirely on real estate, amassing a considerable fortune.
The Lakers represented a substantial portion of his net worth. In 1979, Buss made a landmark purchase, acquiring the Lakers, the Los Angeles Kings (NHL), and The Forum sports arena for $67.5 million, with $16 million specifically allocated to the Lakers. Adjusted for inflation, this equates to approximately $213 million today. At the time of his death in 2013, the Lakers were valued between $900 million and $1 billion. Buss held a 66% stake in the team, with the remaining shares owned by Ed Roski (8%) and Phil Anschutz (26%). In 2021, Anschutz sold his stake to private equity billionaires Mark Walter and Todd Boehly.
Calculating Buss’ share of the Lakers’ valuation at the time of his death: 66% of $900 million is $594 million, and 66% of $1 billion is $660 million. This places the value of his Lakers stake in the $600 million to $660 million range.
Inheritance and Subsequent Valuation of the Lakers
Upon Jerry Buss’ death, his 66% ownership of the Lakers was divided equally among his six children through a family trust. This resulted in each child inheriting approximately 11% of the team. As of today, the Lakers are valued at around $6.5 billion. Consequently, each 11% stake is now worth approximately $715 million.
From 2013 to 2017, the Buss siblings initially operated under an equal voting structure, with Jeanie Buss serving as the public face of the family’s ownership. However, in 2017, a power struggle ensued when Johnny Buss attempted to wrest control from Jeanie. This attempt failed, and ultimately, Jeanie was granted 100% control over all Lakers decisions by her siblings.
Early Life and Career Before Sports Ownership
Born in Salt Lake City, Jerry Buss spent his early years in Kemmerer, Wyoming, raised by a single mother during the Great Depression. He earned a scholarship to the University of Wyoming, completing his degree in just 2.5 years. By the age of 24, he had obtained both an MS and a Ph.D. in chemistry from USC. His early professional life included roles as a chemist and a brief stint in the aerospace industry before he returned to USC as a faculty member. It was during his time at USC that Buss began investing in real estate, initially as a means to supplement his teaching income. His real estate ventures soon proved so lucrative that he transitioned to focusing on them full-time.
The Lakers Acquisition and Subsequent Success
In 1979, Jerry Buss made a significant entry into the world of sports by acquiring the Lakers, the Kings, and The Forum for $67.5 million. Of this amount, $16 million was attributed to the Lakers. At the time, this was the largest sports team purchase in history. Within a year, the Lakers, under Buss’ leadership, secured their first of ten NBA championships. By the time of his death in 2013, the Lakers were valued at $1 billion, making them one of the first professional sports teams to reach a billion-dollar valuation.
Today, the Lakers are valued at approximately $6.5 billion, solidifying their position as one of the most valuable sports franchises worldwide. This valuation underscores the impact of Jerry Buss’ ownership and strategic management.
Personal Life and Other Ventures
In addition to his accomplishments in business and sports, Jerry Buss was also a skilled poker player who participated in professional competitions. He passed away on February 18, 2013, in a Los Angeles hospital after a battle with cancer. He is survived by his six children, all of whom have been actively involved in the Lakers organization.
While specific details about his personal real estate holdings, private aircraft, or luxury vehicles are not publicly documented, it is evident that his primary assets were centered around his ownership stake in the Lakers and his earlier real estate ventures. His legacy extends beyond mere financial wealth, encompassing the success and cultural impact of the Los Angeles Lakers under his ownership.
