Jeanie Buss, 61, made history as the first woman to own a championship NBA team when the Los Angeles Lakers won the title in 2020. As the controlling owner and chairwoman of the Lakers, she has amassed a net worth of an estimated $500 million. Buss, the daughter of former Lakers owner Jerry Buss, who died in 2013, has diversified her business interests, including co-ownership of the American women’s professional wrestling promotion, Women of Wrestling.
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Lakers Leadership
Jeanie Buss is best known as the chairwoman and controlling owner of the Los Angeles Lakers. Following the death of their father Jerry Buss in 2013, his six children inherited his 66% controlling stake in the Lakers, with each child receiving roughly 11%. Given that Forbes values the Lakers at roughly $5.9 billion, an 11% stake equates to just under $650 million.
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In 2017, Buss solidified her control over the Lakers following a legal battle with her brothers Jim and Johnny Buss. She removed Jim from his position as head of basketball operations and executive vice president, and secured her role as lifetime controlling owner. As CEO, she oversees all aspects of the organization, including basketball operations, marketing, sponsorships and broadcast relations. Buss also represents the Lakers on the NBA Board of Governors and serves on the NBA Advisory and Finance Committee.
Early management roles
Before taking over the Lakers, Buss gained valuable experience managing other sports teams owned by his father. At just 19 years old, he was appointed general manager of the Los Angeles Strings, a professional tennis team. This role provided him with early leadership experience and set the stage for his future in sports management. Buss led the Strings to two league titles before the team disbanded in 1993.
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Buss also managed the Los Angeles Blades in the Roller Hockey International League, earning praise for her knowledge and leadership skills. Her tenure with the Blades from 1993 to 1999 further honed her abilities in sports management, leading to her recognition as Executive of the Year by Roller Hockey International.
business ventures
In addition to her role with the Lakers, Buss co-owns Women of Wrestling, a professional wrestling promotion. Inspired by tennis legend Billie Jean King and her childhood love of comic book heroines, Buss aims to empower women through this venture. “The women of WOW are some of the strongest people I’ve ever met in my life,” Buss said. “They’re unbelievably extraordinary. They’re superheroes.”
Education and honours
Jeanie Buss graduated with honors from the University of Southern California’s Marshall School of Business in 1985. She now serves as a trustee of the university. Her father insisted she complete her education in order to become the owner of the Los Angeles Strings. Reflecting on this, Buss emphasizes the importance of education and says it has taught her valuable lessons that have contributed to her success.
Hollywood Ventures
Living in Los Angeles, it’s no surprise that Buss has also tried her hand at show business. She served as executive producer of the Hulu documentary “Legacy: The True Story of the L.A. Lakers,” which chronicles the rise and success of the Lakers franchise and the internal family struggles for control following Jerry Buss’ death. Buss expressed the importance of sharing her father’s story with a new generation, emphasizing his unique contributions to the sports world.
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In addition, Buss has teamed up with Mindy Kaling to develop a workplace comedy inspired by her experiences with the Lakers for Netflix. The show, which already has a ten-episode order, will be written by Elaine Ko of “Modern Family” and will explore the dynamics of NBA ownership and family drama.
Real Estate Ventures
In 2020, Buss purchased a beachside condo in Playa del Rey for $2.6 million. The 2,200-square-foot property has four bedrooms, three bathrooms, and stunning ocean views from its balcony and patio. The purchase comes a year after she sold her Mediterranean-style home in Playa Vista for $2.575 million, highlighting her active involvement in the real estate market.
Personal life and future plans
Buss, now engaged to actor and comedian Jay Mohr, continues to break barriers and set new standards in the sports industry. She has publicly stated her commitment to keeping the Lakers in the Buss family while honoring her father’s legacy. “I’m not going anywhere. This is what my father told me to do. The team is not for sale,” she told the Los Angeles Times.
conclusion
Jeanie Buss’ journey from managing tennis and roller hockey teams to becoming the first woman to own a championship NBA team is a testament to her resilience, leadership, and business acumen. With a net worth of $500 million and a diverse portfolio of business ventures, Buss is making significant strides in the sports world and beyond. Her story is a source of inspiration for many, highlighting the importance of perseverance, education, and innovation in achieving success.
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Category: Net worth