The Los Angeles Lakers are led by Jeanie Buss, the team’s president, and majority owner. She is the daughter of Jerry Buss, the late owner of the Los Angeles Lakers.
A pro tennis team called the Los Angeles Strings hired her as the team’s general manager at the tender age of 19 years old. It wasn’t long until she became the president of the Great Western Forum after purchasing the Los Angeles Blades, a roller hockey team, After her father’s death, she became vice president of the Los Angeles Lakers.
When Jerry’s six children each possess a controlling stake in the NBA franchise, Buss was the one who assumed a decisive leadership role and was elected to the position of team president.
She also represents the Los Angeles Lakers on the NBA Board of Governors. When it came to controlling the Lakers, Jerry’s six children initially got the same number of votes each. The Lakers’ owner, Buss, has done a fantastic job. With a championship in 2020, she led the squad
Early Life and Family
On September 26th, 1961, Jeanie Marie Buss was born in Santa Monica, California. Jeanie was only a few years old when her father, Jerry Buss, began making a name for himself in the real estate industry.
Jerry bought an apartment complex in West Los Angeles in the 1960s. The physical chemistry Ph.D. grad would have a streak of profitable real estate endeavors after this. When Jerry Buss and Frank Mariani decided to start their real estate investment firm, they called it Mariani-Buss Associates.
During this time, Jerry and Joann had split, leaving Joanie with major emotional troubles. Despite this, she maintained a close bond with her dad. Jerry started buying up sports franchises in the Los Angeles area at this time.
The Los Angeles Strings, the Los Angeles Kings of the NHL, and the Los Angeles Lakers were just a few of the notable Los Angeles-based sports franchises. She began attending World Team Tennis meetings with Jerry when she was just 14 years old and learned a lot of valuable information that she would later use in her role as the Strings’ manager. She decided to live with her father full-time at the age of 17 and moved in with him.
Despite selling the majority stake in the Kings, Jerry continued to carefully manage the Lakers. Buss bought The Forum for $67.5 million as part of a slew of sports-related deals. Many all-star players like James Worthy, Magic Johnson, Shaquille O’Neal, and Kobe Bryant played for the Lakers while they were owned by Jerry Buss. Jerry was a key player in the Lakers’ meteoric rise to $1 billion in market capitalization.
Jeanie went to college while also learning the business and sports management ropes from her father. The University of Southern California was her final stop before earning her bachelor’s degree in business administration with honors. At the age of 19, Jeanie was hired as the new manager of Los Angeles Strings by Jerry. Jeanie served as the president of the Great Western Forum for four years after acquiring ownership of the Los Angeles Blades of Roller Hockey International.
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While her brother Jim handled the sports-related choices for the Lakers, she proved to Jerry that she was a natural at running the business side of things. By 2005, she had established herself as one of the most powerful female figures in the sports world. Both Mitch Kupchak and her brother Jim, who was VP of Basketball Operations, were sacked by Buss when Jerry died in 2013.
Issues in Family Law
In 2017, Johnny, Jeanie’s brother, attempted to wrest control of the Lakers from her. Jeanie was able to consolidate her hold on the team after a protracted struggle. She is now the only decision-maker for the Laker family.
Jeanie decided to end her marriage to Steve Timmons, a professional volleyball player, in 1993, just three years after the couple had tied the knot. She revealed that she prioritized her profession over getting married at the time.
She became engaged to Phil Jackson, who was formerly the head coach of the Los Angeles Lakers, shortly after appearing nude in the film “Playboy.” In 2016, the couple made public their decision that they would no longer proceed with the wedding they had been planning.
Earlier this year, it was reported that Buss had sold her Playa Vista residence for $2.575 million. In 2017, she paid $2.45 million for the house she now owns. She agreed to the price reduction even though the house was originally listed for $225,000 higher than the final selling price.
After purchasing the property two years before, Buss made some improvements to make it more appealing to future buyers. A fresh coat of paint in a neutral color and new light fixtures helped clean up the property before it was re-listed.
Her former Playa Vista house has a living area of about 3,200 square feet and is situated on a corner property in the neighborhood. Three-car garage and terrace with paver stones are also included. Buss reportedly owns two homes in Playa Vista, the most recent of which is a four-bedroom condo she purchased in 2018.
In 2020, Jeanie bought a new house in Los Angeles’ Playa del Rey district. When she purchased the house, she paid $2.6 million for the convenience of being just a few miles from LAX International Airport.
The four-bedroom seaside property has a swimming pool, a Jacuzzi, and a gym as notable amenities. The Breakers complex, a gated community in Playa del Rey, is also home to the 2,200-square-foot residence. Buss had owned several residences in the Los Angeles area in the past, but this was her first waterfront residence.
Jeanie Buss’s Net Worth
It is Jeanie Buss’ father, Jerry Buss, who founded the LA Lakers, and she currently serves as its president and controlling owner. The net worth of Jeanie Buss is $500 million.
Her first job was as the general manager of a professional tennis team, the Los Angeles Strings when she was just 19 years old. Following her purchase of the Los Angeles Blades roller hockey team, she was elected president of the Great Western Forum. After the death of her father, she was named vice president of the Los Angeles Lakers.
Even though each of Jerry’s six children had a stake in the ownership of the NBA franchise, Buss was the one who rose to the top and became the team president.
As an NBA Board of Governors member, she represents the Los Angeles Lakers. It was initially decided that all six of Jerry’s children would each have an equal voice in deciding who owned the Los Angeles Lakers. It has been a great tenure for Buss as owner of the Los Angeles Lakers, and in 2020 they will win the NBA championship for the first time in their history.
Frequently Ask Questions
What Is the Net Worth of Jeanie Buss?
Buss has a current net worth of $500 million.
How Much Money Does Jeanie Buss Make in a Year?
A year’s worth of earnings for Jeanie Buss totals $60 million.