What is Jeanie Buss Net Worth?
Jeanie Buss is the daughter of late Los Angeles Lakers owner Jerry Buss and the President and controlling owner of the team. Jeanie Buss has a net worth of $500 million. She 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.
Although controlling ownership of the NBA team fell to each of Jerry’s six children, Buss was the one who took a strong leadership role at the organization, becoming the team president. She also represents the Lakers on the NBA’s Board of Governors. Initially, all six of Jerry’s children had an equal vote when it came to controlling ownership of the Lakers. Buss’ reign as the Lakers’ owner has been successful, and in 2020 she led the team to an NBA championship title.
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.
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.
Family Legal Issues
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.
After marrying professional volleyball player Steve Timmons in 1990, Jeanie decided to divorce him after three years. She explained that she put her career ahead of her marriage. After posing nude for “Playboy,” she became engaged to Phil Jackson, the former head coach of the Lakers. In 2016, the pair announced that they were no longer planning to go through with the marriage.