We use enterprise values, which reflect the cost of acquiring a business including debt. As the owner of the Los Angeles Lakers basketball team, he amassed an even greater fortune (and notoriety). After his father Jerry died in 2013, his controlling ownership of the Lakers passed to his children via a family trust, with each child receiving an equal interest. He meticulously involved them in the team as he saw fit and when he died in 2013, the 66% controlling ownership Buss owned went down to six of his children through equal shares. Best Banks:Best National Banks of 2021: Low Fees, High APYs & Accessibility. Jeanie began dating Phil Jackson, the former head coach of the Lakers in late 1999. He made a large share of his wealth when he sold his drug companies Abraxis and American Pharmaceutical Partners for a combined, It is an honor for me to be part of the Lakers family and the nations foremost basketball franchise,, Earvin Johnson is a shining example of excellence on and off the court, and it is a privilege to have acquired his ownership position,, The franchise was first and foremost owned by Ben Berger when the team played in Minneapolis. Buss also became the first female controlling owner to win an NBA championship after the Lakers conquered the Orlando bubble. The team folded in 1989 and the league folded three years later. After Jim's dad's end, Jerry, his $600 million, and a tremendous heap of resources were isolated by their family trust into equivalent parts among the Buss family. In January 2008, Buss donated $7.5 million to USC's Department of Chemistry to fund two endowed chairs and an endowed scholarship fund for chemistry graduate students; the two chairs were to be named after his mentors at USC, Professors Sidney Benson and David Dows. Your IP: There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Grousbeck made his money as a venture capitalist. Unusually, hes found a way to actually lose money on an NBA team so far. 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. LA Clippers owner Steve Ballmer. Harris was a co-founder of private equity giant Apollo Global Management and continues to serve as senior managing director today. If you would like to customise your choices, click 'Manage privacy settings'. He was inducted into the Naismith Memorial Basketball Hall of Fame as a contributor. With an estimated net worth of $4.3 billion, Mark Cuban is not the richest NBA owner, but he is one of the most famous and outspoken. When Hazzard died in 2011, he was still a Lakers employee. All Rights Reserved. She is the daughter of Jerry Buss, the former. A quick splash of neutral paint and modern fixtures helped spruce it up before the property was put back on the market. Properties: Formula One, Atlanta Braves, Drone Racing League*, Ball Arena*, Properties: Los Angeles Rams, Arsenal, Denver Nuggets, Colorado Avalanche, Colorado Rapids, Altitude Sports & Entertainment, Los Angeles Gladiators, Los Angeles Guerrillas, Properties: Dallas Cowboys, Legends*, The Star, CompLexity Gaming, Properties: Boston Red Sox, Liverpool, NESN, Roush Fenway Racing, Fenway Sports Management. Jim has yet to reveal any additional information about his earnings. He was promoted to vice presidentof basketball operations in 2005. He spent much of his youth atrace tracks. Most people on this list are worth billions. We welcome all corrections and feedback using the button below. That's certainly good news for the children of the late Dr. Jerry Buss, the team's charismatic longtime owner. [33][failed verification], daughter-of-lakers-owner-jerry-buss-be-the-next-to-rule-her-fathers-sports-kingdom-or-will-one-of-her-brothers-rise-to-power-a-fractured-family-fable, Naismith Memorial Basketball Hall of Fame, Forest Lawn Memorial Park (Hollywood Hills), Learn how and when to remove this template message, "Lakers' Jeanie Buss: She's Got Balls - Sports Illustrated Vault | SI.com", Jerry Buss, Longtime Lakers Owner, Is Dead at 80, "Whether It's the L.A. Lakers or a Lovely Woman, Jerry Buss Is Interested in Champions", "Lakers Legendary Jerry Buss and His "Rags to Riches" Story Truly One of a Kind", "Naismith Memorial Basketball Hall of Fame Announces Class of 2010", "Golden Plate Awardees of the American Academy of Achievement", "A Bad Fold by David Grey on Poker After Dark", Los Angeles Times: "All in the Family - If Jerry Buss has his way, the Lakers will belong to his kids" by John Ireland, "Lee Klose finds birth family after decades", Dodgers affected by Jerry Buss like no other non-NBA team, "Buss also booked for driving with BAC of 0.08 or higher", "Kobe Bryant, Steve Nash help Lakers hold on for 2nd straight win", Breaking News: Lakers Owner Jerry Buss Dying Of Cancer, "Lakers Owner Jerry Buss Dies at Age 80, Leaving Behind "Unparalleled Legacy", "Jill Painter: Lakers lose innovative owner, L.A. loses friend", "Jerry Buss Buried At Forest Lawn Memorial Park, Hollywood Hills In Private Ceremony", "LOS ANGELES: Jerry Buss, Lakers' flamboyant owner, dies at 80", "Buss family faces crucial moment with the Lakers", "Lakers expected to remain a Buss family-owned team", "World Series of Poker invites Kobe Bryant as tribute to Jerry Buss", https://en.wikipedia.org/w/index.php?title=Jerry_Buss&oldid=1145995928, This page was last edited on 22 March 2023, at 04:43. Robert Pera is the mastermind behind Ubiquiti Networks, a wireless broadband company that deals mostly with emerging markets. After her husband died, she was embroiled in a protracted lawsuit with his heirs over the familys assets. The squad has reached the Super Bowl nine times since 2000, the rookie year for quarterback Tom Brady, and taken home the trophy in six of those visits. DraftKings went public in April via a special purpose acquisition company, or SPAC, and shares have tripled since then. Click to reveal The embattled energy tycoon died in a single-vehicle crash in 2016 just one day after he was indicted on federal bid-rigging charges through his Chesapeake Energy company. Buss bought the Lakers in 1979, after which the team saw a meteoric rise. Likely, Jim's buss' net worth falls around $160 million as of 2023. Cooke was successful and he owned several professional teams, enjoying paramount success. Thus, you wont find Michael Rubin or Fanatics on our list, despite his minority ownership in teams and the companys dominance in sports apparel merchandise. When Jerry Buss died in February 2013, the legendary Lakers owner left his six children each with an equal vote in charge of a family trust, with a 66% ownership stake in the team. Buss became an owner of the Los Angeles Strings in World Team Tennis. Miller, who has an estimated net worth of $1.7 billion, transferred ownership of the Utah Jazz to a, Joey Votto, Freddie Freeman and the Highest-Paid MLB Player on Every Team. [10] Buss later sold his controlling interest in the Kings to Bruce McNall in 1988 (who made headlines that year by trading for Wayne Gretzky from the Edmonton Oilers), retaining ownership of the Lakers and The Forum. Philip Anschutz is an American billionaire who owns a plethora of companies across several sectors. Its safe to say that Jerry made a great investment with that purchase just from the Lakers and Kings success alone as both franchises have won multiple championships since being acquired by the historic owner. [17], Buss had two more children with a girlfriend, Karen Demel: Joey (b. The Buss Family Trust now owns the Lakers, with Jeanie Buss acting as the President. Jerry purchased the Lakers in 1979 for $68 million dollars in a package deal that also included the Los Angeles Kings of the NHL, as well as two venues in the Great Western Forum and a ranch in the Sierra Nevada Mountains. Joey Buss, 32, is in his sixth season as the D-Fenders president and chief executive. No reliable net worth information is available for David Blitzer, but Joshua Harris is worth $4.2 billion. As of March 2023, James Hatten's estimated net worth is about $120 million. Although Buss had purchased a number of properties throughout the LA area in the past, this latest acquisition was her first waterfront residence. that he made, to purchase the Lakers, the NHLs Los Angeles Kings, the Forum, a ranch in Kern County for a combined value of $67.5 million. Therefore each child's 11% stake is worth around $550 million. 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. 2023 ABG-SI LLC. Much of the real estate owned by mogul Stan Kroenke are shopping plazas situated near Walmart stores. Birthplace: Santa Monica, California, U.S. Education: University of Southern California. Thats because the Toronto Raptors, San Antonio Spurs and New York Knicks are owned either by corporations or people or families whose net worth is unknown. The Buss family is synonymous with the Los Angeles Lakers and is well known in the sports and entertainment industry. Jesse Buss, 29, is in his second season as the Lakers' assistant general manager and director of scouting,. Know about her Salary, Career, and Achievements. James Hatten Buss, former executive vice president of the Los Angeles Lakers (Source: Bleacher Report) As of 2022, Jim has an estimated net worth of around $150 million. 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. Glen Taylor, who has a net worth of $2.9 billion, worked in the wedding business in college, went on to buy a wedding services company for $2 million in 1975 and grew it into Taylor Corp., a firm thats done over $2 billion in sales. [11] The Sparks also experienced their share of success, winning two WNBA championships with such players as Lisa Leslie, Tamecka Dixon and DeLisha Milton-Jones. The Showtime era was born, the three-peat was accomplished and so much more. The 2,200-square-foot home also lies within the Breakers complex, a gated community within the Playa del Rey area. Whereas, Dr. Jerry Buss massive wealth of $600 million was also distributed among six children via a family trust. Jeanie Buss, the owner of Los Angeles Lakers, is worth $500 million. Jeanie has also been involved in the alcohol industry, being the co-founder of her tequila brand, Cincoro Tequila. Buss originally went to invest in real estate in order to provide an income so he could continue teaching. However, their divorce was finalized in the year 1985 and had to live with each other for more than six months as they were watched by the social workers. Her wealth includes cars and houses. [18], On May 29, 2007, Buss was issued a citation for driving under the influence after two California Highway Patrol officers saw him driving his gold Mercedes-Benz on the wrong side of the road in the coastal community of Carlsbad in northern San Diego County, with a 23-year-old woman passenger. Jeanie Buss is currently the controlling owner and President of the Los Angeles Lakers. FSG ranks as the fourth-largest sports empire at $6.6 billion, flat from a year ago. Jeanie held a strong relationship with her father and was heavily involved in the sports business world. Submit a correction suggestion and help us fix it. Upcoming NBA and Basketball Movies Every Fan Should be Excited About, Full Spectrum Services LLP 2022 | All Rights Reserved. Upon his 2013 death, his six adult kids inherited a 66% majority stake in the Lakers. Buss Family Trust. Jeanie Marie Buss (born September 26, 1961) [1] is an American sports executive who is the controlling owner and president of the Los Angeles Lakers of the National Basketball Association (NBA), [2] [3] and co-owner and promoter of the U.S. women's professional wrestling promotion Women of Wrestling . Buss also became the first female controlling owner to win an NBA championship after the Lakers conquered the Orlando bubble. He then embarked on a remarkable run of buying into Chicago sports teams just as they were taking off, including not just the Bulls in 1985 but also the White Sox in 81. Beginning in the early 1980s, Jerry Buss was notoriously seen in and around Los Angeles at charitable events with his ever-present entourage of close friends who were infamously dubbed in the press as The Seven Dwarfs. A $300-million (minimum) gondola to Dodger Stadium? Cloudflare Ray ID: 7c0c8b0bb9ab0e01 In the 1970s, Gayle Benson worked in interior design. So, what is Buss' net worth? SPORTS ILLUSTRATED is a registered trademark of ABG-SI LLC. 2023 Celebrity Net Worth / All Rights Reserved. For the next 30 years, he continued to use his real estate investments to fuel his sports empire. Here's how she compares to the other NBA owners in terms of wealth. She began working for The Times as a contributor to the digital sports report, with a focus on USC football, and left in 2018. era was born, the three-peat was accomplished and so much more. The next-richest NBA team owner knows a thing or two about basketball none other than Michael Jordan, who earned just $90 million of his $2.1 billion fortune on the court. Theodore Ted Leonsis made his first fortune at the senior executive level of AOL. He was the companys 30th employee in 1980 and led Microsoft as CEO from 2000-2014. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). The team flatlined without Tom Brady, but it was still a winning year for the Kraft family. The Buss Family Trust owns 66 percent of the Lakers. The California native became General Manager of World TeamTennis, a top tennis league, at the age of 19 while pursuing a Bachelors degree at USC (University of Southern California). Its 206 properties include 107 malls. But Brady is leading the Tampa Bay Buccaneers in the postseason this year while the Patriots delivered their first losing season in two decades. The Buss Family trust has a reported net worth of around $4 billion. Buss was supposed to do well but the team folded in the year 1989. While we work diligently to ensure that our numbers are as accurate as possible, unless otherwise indicated they are only estimates. Timely investments in sports betting company DraftKings and. It is an honor for me to be part of the Lakers family and the nations foremost basketball franchise, Soon-Shiong said in a statement. The family became such a household name that there is now a show on HBO, Winning Time: The Rise of the Lakers Dynasty, that highlights the early success of the Lakers in the 1980s. So best case is 40mil a year minus taxes 25mil net per year. You may opt-out by, Traffic cop at the intersection of money and sports. Besides, she also inherited a major chunk of her father's sports business. President of the Los Angeles Lakers Net worth: $500 million Jeanie Buss is the controlling owner and President of the Los Angeles Lakers. Eventually, Jerry Buss and his business partner Frank Mariani formed Mariani-Buss Associates, a real estate investment company. As one of the NBA's marquee franchises, Forbes estimates the Lakers are worth a breathtaking $3 billion. In 1959, Richard DeVos and a high school friend named Jay Van Andel founded Amway, which would go on to become one of the biggest direct-sales corporations. Where To Watch: LeBron James and More of the Richest Athletes Younger Than 40. Hes worth $400 million, according to Celebrity Net Worth. Alibaba is known as the Amazon of China, and Joseph Tsai co-founded the platform and remains the companys No. [30][31] His succession plan had daughter Jeanie assume his previous title as the Lakers' governor as well as its team representative at NBA Board of Governors meetings. Buss' total net worth isn't revealed yet, however, he is the equal recipients of his father will and ownership of Lakers. Upon Jerry Buss' death in 2013, his six children inherited a family trust that owns 66% of the Lakers. We can take away some key lessons from Dr. Jerry Buss. Jeanie and Jim Buss chat before the start of a news conference to introduce Dwight Howard as the Lakers new center on Aug. 10, 2012. Yes, the Los Angeles Lakers are still owned by the Buss Family Trust, with Jeanie Buss, as the controlling owner. Eventually, all three teams moved into a more modern arena in downtown Los Angeles, the Staples Center, which opened in 1999. He then returned to Los Angeles and attended the University of Southern California (USC), where he earned an MS and PhD in physical chemistry in 1957 at the age of 24. In 2002, when the WNBA was restructured to give its teams individual owners, Buss took ownership of the Sparks. Also like Gates, he became a major philanthropist later in life, giving away more than $2 billion. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Properties: Los Angeles Lakers. The family has a net worth of $5.4 billion. [3][15][16] Their oldest child, Lee, was put up for adoption shortly after birth. She took over the leadership of the Lakers in 2013 after her father's death. Buss attended college atthe University of Southern California(USC), majoring in math before he dropped out. . 10 Simple Habits of Money-Smart Individuals, Tips To Keep Your Finances in Order Without Sacrificing What You Want, 18 of the Richest NFL Players Who Never Won a Super Bowl. Copyright 2023 Market Realist. Jesse Buss's net worth is estimated to be $399.3 million. Currently, Jeanie has a net worth of $500 million, according to Celebrity Net Worth. How Rich Are LeBron James, Steph Curry and Other NBA Stars? By this point, Jerry had divorced from Joann, leaving Joanie with serious emotional issues. At his death, his net worth was estimated to be nearly 1 billion dollars. The couple has four children together two elder sons, Johnny Buss (born in 1956), James "Jim" Buss (born in 1959), and two younger daughters in Jeanie Buss (born in 1961) and . The 20 most valuable sports empires have a combined enterprise value of more than $100 billion, led by Liberty Media at No. Like Paul Allen and Bill Gates, he has dedicated much of his later life to global philanthropy, adding another $2 billion in Microsoft-earned money to charity. By clicking the 'Subscribe Now' button, you agree to our Terms of Use and Privacy Policy. Dinan founded York Capital Management in 1991. Buss was invited by his father to join the great Los Angeles Lakers in 1988. Whether you're stocking up for the next big holiday bash or simply trying to feed your family, you might want to reassess your Costco shopping list. Net Worth: $4.3 billion Ressler has a Wall Street background and he is the co-founder of the private equity firm Apollo Global Management. Timely investments in sports betting company DraftKings and gaming platform Skillz have a combined value of more than $400 million. Anschutz owns the second-largest stake of the team, with the Buss family owning 66%. So who are all the people that own a stake in the Lakers? He purchased the Atlanta Hawks in 2015 for $730 million, along with a group of investors that also includes former NBA star Grant Hill. Properties: New York Yankees, Legends*, YES Network*, New York City FC*, Scranton/Wilkes-Barre RailRiders, Properties: New York Knicks, New York Rangers, Properties: New England Patriots, New England Revolution, UFC*, Kraft Analytics Group, DraftKings*, Skillz*, Boston Uprising, Properties: Manchester United, Tampa Bay Buccaneers, Properties: Seattle Seahawks, Portland Trail Blazers, Seattle Sounders*. Read: 6 Investments Everyone Should Make For the mega rich, ownership of a sports franchise is the ultimate trophy -- and an NFL team is the biggest cap feather of them all. Heres a look at each of their positions: Johnny Buss, 60, serves as the Lakers executive vice president of corporate development. The jump is the largest among sports owners and lands the group at No. Jeanie Buss is a beautiful and brilliant woman who joined her family's business at 19 years old. She is responsible for all aspects of the team. She also represents the Lakers on the NBA's Board of Governors. [28] Lakers guard Kobe Bryant said "His impact is felt worldwide," and called Buss the greatest owner in sports ever.[29]. His contributions to basketball were recognized by his induction into the Basketball Hall of Fame in 2010. Terms of Use, Michael Jordan Biography, Salary, Net Worth, NBA, How much is Jeanie Buss Net worth? During her college years, Jerry appointed the 19-year-old Jeanie as the new manager of the Los Angeles Strings. Jeanie took on various sports operations positions before being heavily involved with the Lakers, and even though her dad was an inspiration, she took it upon herself to become knowledgeable in the industry. No reliable net worth information is available for Irving Grousbeck or Robert Epstein, but Stephen Pagliuca is worth $450 million and Wycliffe Grousbeck is worth $400 million for a combined net worth of $850 million, according to Celebrity Net Worth. since early 2020. In 2017, Jeanie's brother Johnny moved to take control of The Lakers away from his sister. This close-knit group of friends would often bid on charitable auction items that would help the causes of the events they attended. After Jim's father died, their family trust divided Jerry's $600 million and other assets among the Buss siblings in equal parts. The Lazers also played in The Forum. Jim tied his wedding knot to his former wife in 1983 and the pair adopted a son named, Jager. He first bought 49% of the Nets in 2018, then scooped up the rest one year later. Theyre tied with the Celtics as the most decorated team in history, with 17 championships to their name. As of March 2023, The total combined net worth fortune of the Bush family is about $500 million. Why is Frank McCourt really pushing it? Get advice on achieving your financial goals and stay up to date on the day's top financial stories. Forbes pegs the enterprise value (equity plus net debt) of the Kraft familys sports holdings at $5.3 billion, up $800 million from last year. Shop Pay is an innovative payment solution developed by Shopify. Buss bought the Lakers in 1979, after which the team saw a meteoric rise. 1953[citation needed]), Johnny (b.1956), Jim (b. Investors believe that revenue for major team sports will continue to climb in the years ahead as fans come back to stadiums and the value of media rights increases. He's worth $400 million, according to Celebrity Net Worth. Anschutz's share in the team also gives him theright of first refusal on any wider controlling sale, though it's unclear if the buyer in the proposed deal would have the same. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. Privacy Policy 19. He Did Something I Will Never Forget: How Kobe Bryant Impressed Lakers Owner As part of the deal to move the Lakers into Staples Center, Buss sold the Great Western Forum (which was later reverted to its original name). In 2019, his online sneaker platform StockX became a unicorn thats when a privately held start-up reaches a value of $1 billion. recent estimation. The Buss family has owned the Lakers since 1979, when the late Jerry Buss purchased the team. Their stronghold over the political scene in the country is due to the governors, presidents and . Through a $3.6 billion television deal with Time Warner Cablethe largest in franchise history and last major deal before his passingBuss has left his self-made fortune to his family and his . The Los Angeles Kings, the Los Angeles Sparks, and . She enrolled at the University of Southern California and eventually graduated with honors after majoring in business. Whereas, her sister Jeanie handles another part of the Lakers business. The relocation happened during 1957 when Robert Short was at the helm of ownership. She began her career at the age of 19 when she became the general manager of the Los Angeles Strings, a professional tennis team. How much the team is worth: $3.1 billion No reliable net worth information is available for Irving Grousbeck or Robert Epstein, but Stephen Pagliuca is worth $450 million and Wycliffe. After Jerry passed away, his majority ownership of the Lakers was passed down to his six children, one of them being Jeanie. [24][25] On February 21, hundreds of friends, colleagues, and family members gathered to pay tribute to Buss in a televised memorial service at the Nokia Theatre L.A. Live, across from the Lakers' home court, Staples Center. In 2020, Jeanie acquired a new property in the Playa del Rey neighborhood of Los Angeles. As part of his string of sports-related acquisitions, Buss also purchased The Forum for $67.5 million. Later, when the WNBA was formed in 1996, Buss took charge of operating that league's Los Angeles franchise, the Los Angeles Sparks. Arjun Athreya is a senior writer at Essentially Sports and has been contributing An Israeli immigrant and self-made man, Tom Gores owns Platinum Equity, which now controls nearly $20 billion in assets spread across 25 companies.
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