Jeanie Buss, born on September 26, 1961, in Santa Monica, California, is a prominent American sports executive who has amassed a net worth of $700 million at the age of 62. Buss is widely recognized as the President and controlling owner of the Los Angeles Lakers, a position she inherited from her late father, Jerry Buss.
How Did Jeanie Buss Inherit Her Wealth?
Upon the death of Jerry Buss in 2013, Jeanie and her five siblings inherited his 66% stake in the Los Angeles Lakers. The siblings divided the ownership equally, with each holding an 11% stake in the franchise. In 2017, Jeanie gained full control over the team’s decisions, although her siblings continue to own their respective shares. The Lakers’ valuation is estimated to be $6.5 billion, making each 11% stake worth approximately $715 million.
What Were Jeanie Buss’ Early Career Steps?
Jeanie Buss began her career in sports management at the age of 19 when she became the general manager of the Los Angeles Strings, a professional tennis team. This early exposure to sports management set the stage for her future successes. She later became the owner of the Los Angeles Blades, a roller hockey team, and served as the president of the Great Western Forum, the Lakers’ home arena at the time. Buss’s early career demonstrated her capability and business acumen, which eventually led to her becoming the vice president of the Lakers after her father’s passing.
What Are Jeanie Buss’ Major Achievements?
Jeanie Buss has achieved significant milestones throughout her career. In 2023, she won a Sports Emmy Award as the executive producer of the documentary “Legacy: The True Story of the LA Lakers.” Under her leadership, the Lakers have continued to thrive, maintaining their status as one of the most valuable franchises in the NBA. Buss is also the co-owner and promoter of Women of Wrestling (WOW), further showcasing her influence in the sports industry.
What Is the Ownership Structure of the Lakers?
The Lakers’ ownership is divided among several key stakeholders. Apart from the Buss family’s 66% stake, Mark Walter and Todd Boehly own 26% of the team. They are notable figures in private equity, having founded Guggenheim Partners and Eldridge, respectively. Ed Roski, a billionaire real estate developer, holds an 8% stake. This diverse ownership group contributes to the Lakers’ strategic decisions and financial stability.
How Did Jeanie Buss’ Early Life Influence Her Career?
Jeanie Buss was born to Jerry and Joann Buss and raised alongside three siblings. Her father, Jerry, was a successful real estate investor and sports team owner. From a young age, Jeanie was exposed to the business world, attending World Team Tennis meetings with her father at the age of 14. She chose to live with Jerry full-time at 17, immersing herself in the world of sports management. These early experiences shaped her understanding of the industry and prepared her for her future role with the Lakers.
What Educational Background Does Jeanie Buss Have?
Jeanie Buss attended the University of Southern California, where she majored in business and graduated with honors. Her education provided a strong foundation for her career in sports management. During her college years, she managed the Los Angeles Strings and later took on the role of owner of the Los Angeles Blades. These experiences, combined with her academic background, equipped her with the skills necessary to succeed in the competitive world of sports management.
What Personal Challenges Has Jeanie Buss Faced?
Jeanie Buss has faced several personal challenges throughout her life. She married professional volleyball player Steve Timmons in 1990, but they divorced three years later, citing her career priorities as a factor. Buss later entered a long-term relationship with Phil Jackson, the former head coach of the Lakers, which ended in 2016. In 2017, she began dating comedian Jay Mohr, and the couple announced their engagement in December 2022. They married in Malibu in September 2023. Buss also posed for Playboy magazine in 1995, showcasing her confidence and willingness to take risks.
What Are Jeanie Buss’ Real Estate Ventures?
Jeanie Buss has made several notable real estate transactions over the years. In 2019, she sold her home in Playa Vista for $2.575 million, having purchased it for $2.45 million in 2017. Despite accepting a lower selling price than initially listed, she invested in renovations to enhance the property’s appeal. In 2020, Buss acquired a new residence in the Playa del Rey neighborhood of Los Angeles for $2.6 million. This waterfront property features a pool, spa, and gym, and is located within a gated community. Buss’s real estate investments reflect her strategic approach to managing her wealth and assets.
What Is Jeanie Buss’ Legacy?
Jeanie Buss’s legacy is defined by her contributions to the Los Angeles Lakers and her influence in the sports industry. She has successfully navigated the challenges of managing a high-profile franchise, maintaining the Lakers’ competitive edge and financial success. Her leadership has been instrumental in the team’s continued success, and her efforts to promote women in sports through WOW demonstrate her commitment to gender equality in the industry. Buss’s legacy is one of resilience, innovation, and a deep passion for sports management.
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