Jeanie Buss Net Worth (Money & Salary)

What Is Jeanie Buss’ Net Worth?

With a net worth of $700 million, Jeanie Buss is a noteworthy American sports executive. She is the daughter of the late Jerry Buss, former owner of the Los Angeles Lakers, and currently holds the position of President and controlling owner of the team.

Upon Jerry’s passing in 2013, Jeanie and her five siblings inherited a 66% stake in the Lakers. In 2017, her siblings entrusted her with full control over the team’s decisions, while they each retained an equal 11% stake in the franchise. Given the current valuation of the Lakers at $6.5 billion, each 11% stake is approximately valued at $715 million.

Starting her career at the age of 19, Buss first became the general manager of the Los Angeles Strings, a professional tennis franchise. She later acquired ownership of a roller hockey team called the Los Angeles Blades and subsequently took the role of president of the Great Western Forum. After her father’s death, she became the vice president of the Lakers and is also recognized as the co-owner and promoter of Women of Wrestling (WOW).

In 2023, Jeanie Buss received a Sports Emmy Award for her role as executive producer of “Legacy: The True Story of the LA Lakers.”

Lakers Ownership Stake

Inheriting a family trust that controls 66% of the Lakers, Jerry Buss’ six children each own approximately 11% of the team following his death in 2013. Given that the Phoenix Suns were sold at a valuation of $4 billion in late 2022, it’s reasonable to estimate the Lakers’ worth at around $6.5 billion. This implies that each child’s 11% stake is valued at about $750 million.

Other owners of the Lakers include:

• Mark Walter and Todd Boehly: 26%. Co-founders of the major private equity firms Guggenheim Partners and Eldridge respectively, Mark and Todd purchased their 27% stake from Phil Anschutz, the founder of AEG.
• Ed Roski: 8%. A billionaire real estate developer, Ed controls around 90 million square feet of commercial property across the US. He obtained his 8% stake in the Lakers back in 1998.

In 2017, Jeanie’s brother Johnny attempted to gain control of the Lakers from her. After a prolonged conflict, Jeanie ultimately emerged with even greater authority over the team, solidifying her role as the sole decision-maker for the franchise on behalf of the family. She also represents the Lakers on the NBA’s Board of Governors.

Early Life and Family

Born on September 26, 1961, in Santa Monica, California, Jeanie Marie Buss grew up with three siblings under the care of Joann and Jerry Buss. As a child, she witnessed her father’s rise in the real estate industry. In the 1960s, he invested in a West Los Angeles apartment building, which marked the beginning of a series of successful real estate endeavors for the Ph.D. graduate in physical chemistry. Eventually, Jerry Buss partnered with Frank Mariani to establish Mariani-Buss Associates, a real estate investment firm.

Jerry’s divorce from Joann introduced emotional challenges for Jeanie, although she maintained a close bond with her father. During this period, Jerry started acquiring various sports franchises in Los Angeles, including the Los Angeles Strings, the Los Angeles Kings, and the Los Angeles Lakers. At 14, Jeanie attended World Team Tennis meetings alongside her father, absorbing valuable lessons that would later inform her management of the Los Angeles Strings. By 17, she chose to live with her father full-time.

Despite eventually selling his controlling share in the Kings, Jerry remained focused on the Lakers.

on managing the Lakers with close attention. As a part of his series of sports acquisitions, Buss invested $67.5 million in purchasing The Forum. During Buss’ ownership, the Lakers secured ten championships and assembled a star-studded team featuring the likes of James Worthy, Magic Johnson, Shaquille O’Neal, and Kobe Bryant. Jerry played a pivotal role in transforming the Lakers into a franchise valued at $1 billion.

Career

While following in her father’s footsteps in business and sports management, Jeanie pursued her college education. She enrolled at the University of Southern California, ultimately graduating with honors in business. During her time in college, Jerry appointed Jeanie, then 19, as the manager of the Los Angeles Strings. Following her acquisition of the Los Angeles Blades in Roller Hockey International, Jeanie served for four years as the president of the Great Western Forum, which was the Lakers’ home at that time.

Over time, she demonstrated her business acumen to Jerry, who envisioned her taking charge of the Lakers’ business operations, while her brother Jim would manage the sports aspects. By 2005, she had established herself as one of the most powerful women in sports. After Jerry’s death in 2013, Buss went on to dismiss both General Manager Mitch Kupchak and her brother Jim, who held the position of VP of Basketball Operations.

Personal Life

In 1990, Jeanie tied the knot with professional volleyball player Steve Timmons, but they separated three years later, citing that her focus on her career took precedence over her marriage.

In late 1999, Jeanie entered into a romantic relationship with Phil Jackson, the Lakers’ former head coach. They did not marry and revealed their breakup in 2016.

In 2017, Jeanie started dating comedian Jay Mohr. Their engagement was announced in December 2022, and they exchanged vows in Malibu in September 2023.

In 1995, Jeanie posed nude for the magazine “Playboy.”

Real Estate

In 2019, Buss sold her Playa Vista home for $2.575 million, having initially bought the property for $2.45 million back in 2017. Although the property was listed initially at $225,000 higher than the selling price, she opted to accept the price reduction. Nonetheless, Buss had undertaken some renovations to enhance the appeal of the house for potential buyers within the two years since her acquisition, applying neutral paint and modern fixtures to make it more attractive before listing it back on the market.

On the market, her former Playa Vista residence comprises nearly 3,200 square feet of living space situated on a corner lot. Additional features encompass a flagstone patio, French doors, and a three-car garage. Allegedly, Buss possesses another property in Playa Vista and reportedly purchased this four-bedroom condo back in 2018.

In 2020, Jeanie made a new addition to her real estate portfolio by acquiring a property in the Playa del Rey neighborhood of Los Angeles. She spent $2.6 million on this residence, conveniently located just a few miles from Los Angeles International Airport. The four-bedroom waterfront home boasts a pool, a spa, and a gym among its notable features. Spanning 2,200 square feet, this home is part of the Breakers complex, a gated community in the Playa del Rey area. While Buss had previously acquired several properties throughout the LA region, this latest purchase marks her first waterfront residence.