What is Jeanie Buss' Net Worth?
Jeanie Buss is an American sports executive who has a net worth of $700 million. Jeanie Buss is the daughter of late Los Angeles Lakers owner Jerry Buss. Jeanie Buss currently serves as the President and controlling owner of the team.
Jeanie and her five siblings inherited Jerry's 66% stake in the Lakers upon his death in 2013. In 2017 the siblings gave Jeanie 100% control over Lakers decisions, though the each continue to own equal 11% stakes in the franchise. At the team's current valuation of $6.5 billion, each 11% stake is worth around $715 million.
Jeanie Buss began her career at the age of 19 when she became the general manager of the Los Angeles Strings, a professional tennis team. After becoming the owner of a roller hockey team called the Los Angeles Blades, she became the president of the Great Western Forum. Following this, she became vice president of the Lakers after the passing of her father. She is also the co-owner and promoter of Women of Wrestling (WOW).
Jeanie Buss won a 2023 Sports Emmy Award as the executive producer of "Legacy: The True Story of the LA Lakers."
Lakers Ownership Stake
Upon Jerry Buss' death in 2013, his six children inherited a family trust that owns 66% of the Lakers. That means each child owns around 11% of the Lakers. Considering that the Phoenix Suns sold in late 2022 at a valuation of $4 billion, it's not inconceivable that the Lakers would be worth conservatively $6.5 billion. Therefore each child's 11% stake is worth around $750 million.
Other Lakers owners include:
- Mark Walter and Todd Boehly: 26%. Mark and Todd, who co-founded private equity behemoths Guggenheim Partners and Eldridge, respectively, bought their 27% stake from AEG founder Phil Anschutz.
- Ed Roski: 8%. Ed is a billionaire real estate developer who owns around 90 million square feet of commercial property in the US. He bought his 8% stake in the Lakers in 1998.
In 2017, Jeanie's brother Johnny moved to take control of The Lakers away from his sister. After an extended battle, the coup ended with Jeanie taking even greater control of the team. She is now 100% in charge of all Laker decisions for the family. She also represents the Lakers on the NBA's Board of Governors.
Early Life and Family
Jeanie Marie Buss was born on September 26th of 1961 in Santa Monica, California. Raised alongside three siblings by Joann and Jerry Buss, Jeanie was still quite young when her father started to become successful in the real estate world. During the 1960s, Jerry invested in a West Los Angeles apartment building. This would spark a string of successful real estate ventures for the physical chemistry Ph.D graduate. Eventually, Jerry Buss and his business partner Frank Mariani formed Mariani-Buss Associates, a real estate investment company.
By this point, Jerry had divorced from Joann, leaving Joanie with serious emotional issues. She maintained a solid relationship with her father, however. It was around this time that Jerry began acquiring a number of sports teams in the Los Angeles area. These included the Los Angeles Strings, the Los Angeles Kings hockey team, and the Los Angeles Lakers. At the age of 14, she was attending World Team Tennis meetings with Jerry and learning plenty of future lessons that she would later apply to managing the Los Angeles Strings. At the age of 17, she elected to live with her father and moved in with him full time.
Although Jerry eventually sold his controlling interest in the Kings, he remained focused on closely managing the Lakers. As part of his string of sports-related acquisitions, Buss also purchased The Forum for $67.5 million. Under Buss' ownership, the Lakers won ten championships and collected an all-star squad that included James Worthy, Magic Johnson, Shaquille O'Neal, and Kobe Bryant. Jerry played a major role in building the Lakers into a franchise worth $1 billion.
Career
While learning the ropes of business and sports management from her father, Jeanie also attended college. She enrolled at the University of Southern California and eventually graduated with honors after majoring in business. During her college years, Jerry appointed the 19-year-old Jeanie as the new manager of the Los Angeles Strings. After becoming the owner of the Los Angeles Blades in Roller Hockey International, Jeanie spent four years as the president of the Great Western Forum – the Lakers' stadium at the time.
Eventually, she proved her business instincts to Jerry, who planned to have her take over the business side of the Lakers while her brother Jim handled the sports-related decisions. By 2005, she had become one of the most influential women in sports. After Jerry's passing in 2013, Buss eventually fired both General Manager Mitch Kupchak and her brother Jim, who was serving as VP of Basketball Operations.
(Photo by Rich Fury/Getty Images)
Personal Life
Jeanie married professional volleyball player Steve Timmons in 1990. They divorced three years later, explaining that she put her career ahead of her marriage.
Jeanie began dating Phil Jackson, the former head coach of the Lakers in late 1999. They never actually married and announced their split in 2016.
In 2017 Jeanie began dating comedian Jay Mohr. They announced their engagement in December 2022. They married in Malibu in September 2023.
Jeanie posed nude for Playboy magazine in 1995.
Vince Bucci/Getty Images
Real Estate
In 2019 Buss sold her home in Playa Vista for $2.575 million. She had originally purchased the property for $2.45 million back in 2017. Although the house was originally listed for $225,000 more than the final selling price, she accepted the price cut.That being said, Buss did put some work into the place after buying it two years prior in an effort to make it a more attractive prospect for future buyers. A quick splash of neutral paint and modern fixtures helped spruce it up before the property was put back on the market. In total, her former Playa Vista home spans almost 3,200 square feet of living space and lies on a corner lot. Further features include a flagstone patio, French doors, and a three-car garage. Buss allegedly owns another property in Playa Vista as well, and she reportedly purchased this four-bedroom condo in 2018.
In 2020, Jeanie acquired a new property in the Playa del Rey neighborhood of Los Angeles. She paid $2.6 million for the residence, which conveniently lies just a few miles from Los Angeles International Airport. Notable features of the four-bedroom, waterfront property include a pool, a spa, and a gym. The 2,200-square-foot home also lies within the Breakers complex, a gated community within the Playa del Rey area. Although Buss had purchased a number of properties throughout the LA area in the past, this latest acquisition was her first waterfront residence.
