|Net Worth in 2024
|Date of Birth
|Sep 26, 1961
|62 years old
|Place of Birth
|Santa Monica, California, U.S.
|Six-time NBA champion
NBA Cup (2023)
2023 Sports Emmy Award
|United States of America
What is Jeanie Buss’ Net Worth in 2024?
Jeanie Buss, a prominent American sports executive with a staggering net worth of $700 million, holds a key position as the President and controlling owner of the Los Angeles Lakers. Let’s delve into her journey and significant roles within the Lakers organization.
Inheriting a Legacy
Upon the passing of her father, Jerry Buss, in 2013, Jeanie and her five siblings inherited a substantial 66% stake in the Lakers. A pivotal moment occurred in 2017 when Jeanie gained full control over Lakers decisions, maintaining an equal 11% ownership stake along with her siblings. With the current valuation of the team at $6.5 billion, each 11% stake now holds an impressive value of around $715 million.
Early Career and Diverse Ventures
Jeanie Buss embarked on her career at just 19 years old, serving as the general manager of the Los Angeles Strings, a professional tennis team. From owning the roller hockey team, Los Angeles Blades, to presiding over the Great Western Forum, her journey led her to the position of vice president of the Lakers after her father’s passing. Notably, she is also the co-owner and promoter of Women of Wrestling (WOW).
Accolades and Achievements
In addition to her leadership role with the Lakers, Jeanie Buss achieved acclaim in 2023 by winning a Sports Emmy Award as the executive producer of “Legacy: The True Story of the LA Lakers,” solidifying her impact on the team’s rich history.
Lakers Ownership Stakes and Control
Inheritance and Valuation
Following Jerry Buss’ demise in 2013, his six children inherited a family trust holding a substantial 66% stake in the Los Angeles Lakers. Each child’s ownership translates to approximately 11%. With the Phoenix Suns selling for $4 billion in late 2022, a conservative estimate places the Lakers’ value at $6.5 billion, making each 11% stake equivalent to an impressive $750 million.
Diverse Ownership Profiles
The Lakers’ ownership extends beyond the Buss family, encompassing notable figures such as Mark Walter and Todd Boehly, who jointly hold a 26% stake. The co-founders of Guggenheim Partners and Eldridge acquired their share from AEG founder Phil Anschutz. Additionally, billionaire real estate developer Ed Roski holds an 8% stake, acquired back in 1998.
Family Dynamics and Power Struggles
In 2017, a family power struggle unfolded as Jeanie Buss’s brother, Johnny, sought to seize control of the Lakers from his sister. After a prolonged battle, Jeanie emerged victorious, securing an even greater hold on the team. As of now, she exercises complete control over all Lakers decisions on behalf of the family and represents the team on the NBA’s Board of Governors.
Real Estate Ventures
Playa Vista Home Transformation
In 2019, Jeanie Buss made a strategic real estate move by selling her Playa Vista home for $2.575 million, which she had initially purchased for $2.45 million in 2017. Despite a slight price cut from the original listing, Buss invested effort into enhancing the property’s appeal for potential buyers.
With a touch of neutral paint and modern fixtures, the almost 3,200-square-foot home on a corner lot boasted features like a flagstone patio, French doors, and a three-car garage. Reports suggest that Buss may still own another property in Playa Vista, a four-bedroom condo acquired in 2018.
Playa del Rey Waterfront Retreat
In 2020, Jeanie expanded her real estate portfolio by acquiring a new property in the Playa del Rey neighborhood of Los Angeles. The four-bedroom residence, purchased for $2.6 million, offers convenient proximity to Los Angeles International Airport.
Situated within the Breakers complex, a gated community in Playa del Rey, the 2,200-square-foot home showcases amenities like a pool, spa, and gym. Notably, this waterfront property marks Jeanie Buss’s first foray into owning a residence with a scenic view.
Early Life and Family
Early Life and Family Background
Born on September 26, 1961, in Santa Monica, California, Jeanie Marie Buss grew up in a family of four alongside three siblings, under the care of her parents Joann and Jerry Buss.
Her father, Jerry, initially found success in the real estate world during the 1960s, making strategic investments in a West Los Angeles apartment building. This marked the beginning of a series of prosperous ventures for the Ph.D. graduate in physical chemistry.
Transition into Sports Ventures
Amidst the family dynamics, Jerry Buss and his business partner Frank Mariani founded Mariani-Buss Associates, a real estate investment company. Simultaneously, Jerry expanded his interests into the realm of sports, acquiring teams like the Los Angeles Strings, the Los Angeles Kings hockey team, and eventually, the iconic Los Angeles Lakers.
Jeanie’s exposure to the world of sports management began at an early age, attending World Team Tennis meetings with her father at just 14, where she gleaned valuable lessons for her future role in managing the Los Angeles Strings.
Personal Choices and Lakers Dynasty
At the age of 17, Jeanie made a significant decision to live full-time with her father, maintaining a strong bond with him despite her parents’ divorce. Jerry Buss, while divesting his controlling interest in the Kings, retained a keen focus on steering the Lakers to success. His sports-related acquisitions also included purchasing The Forum for $67.5 million.
Under his ownership, the Lakers achieved extraordinary success, clinching ten championships and assembling an iconic roster featuring James Worthy, Magic Johnson, Shaquille O’Neal, and Kobe Bryant. Jerry played a pivotal role in transforming the Lakers into a billion-dollar franchise.
Career Journey from College to Lakers Business Maven
Balancing Academics and Sports Management
While immersing herself in both business and sports management under her father’s guidance, Jeanie pursued higher education at the University of Southern California. Graduating with honors in business, she honed her skills and knowledge to contribute to her family’s growing sports empire.
Early Leadership Roles
During her college years, Jerry Buss recognized Jeanie’s potential and appointed her, at the young age of 19, as the manager of the Los Angeles Strings. Her journey continued as she ventured into Roller Hockey International, taking ownership of the Los Angeles Blades. Notably, Jeanie served as the president of the Great Western Forum for four years, overseeing operations at the Lakers’ stadium during that period.
Proving Business Acumen
Jeanie’s business instincts shone through, capturing her father Jerry’s confidence. Recognizing her capabilities, Jerry envisioned a dynamic partnership with her brother Jim, with Jeanie taking charge of the Lakers’ business side. By 2005, Jeanie had solidified her position as one of the most influential women in the sports industry.
A Shift in Leadership Dynamics
Following Jerry’s passing in 2013, Jeanie took decisive action by removing both General Manager Mitch Kupchak and her brother Jim, who held the role of VP of Basketball Operations. This strategic move signaled a shift in leadership dynamics as Jeanie Buss asserted her influence in reshaping the Lakers’ future.
Personal Life and Relationship
Early Marriage and Career Prioritization
In 1990, Jeanie Buss married professional volleyball player Steve Timmons. Unfortunately, their union lasted only three years, as Jeanie cited prioritizing her career over her marriage as the reason for their divorce.
Romance with Phil Jackson
Jeanie’s romantic journey continued with Phil Jackson, the former head coach of the Lakers, as they began dating in late 1999. Despite their significant connection, they never officially married and decided to part ways in 2016.
Love and Laughter with Jay Mohr
In 2017, a new chapter unfolded as Jeanie entered a relationship with comedian Jay Mohr. Their engagement was announced in December 2022, culminating in a picturesque wedding in Malibu in September 2023.
Bold Choices: A Playboy Feature in 1995
Notably, in 1995, Jeanie Buss made a bold choice by posing nude for Playboy magazine, showcasing her confidence and breaking barriers in her personal and professional life.
Frequently Asked Questions (FAQs)
As of today, February 4, 2024, Jeanie Buss is 62 years old. She was born on September 26, 1961.
Estimating Jeanie Buss’s exact net worth is challenging due to private financial information. However, various sources estimate her net worth to be between $500 million and $1 billion. This figure primarily stems from her controlling ownership of the Los Angeles Lakers.
Jeanie Buss is an American sports executive best known for being the controlling owner and president of the Los Angeles Lakers. She is also the co-owner and promoter of the Women of Wrestling (WOW) promotion. Jeanie inherited the Lakers from her father, Jerry Buss, in 2013 and has been instrumental in leading the team to success, including six NBA championships.
As of February 4, 2024, Jeanie Buss is not publicly known to be dating anyone. However, she recently married comedian Jay Mohr in September 2023. The couple had been dating for several years before tying the knot.
Jeanie Buss and her siblings inherited the Los Angeles Lakers after the passing of their father, Jerry Buss, in 2013. However, Jeanie assumed controlling ownership of the team in 2017 after reaching an agreement with her siblings. This made her the first woman to hold a controlling ownership stake in an NBA team.
As mentioned earlier, Jeanie Buss recently married comedian Jay Mohr in September 2023. This follows her previous marriage to Steve Timmons, which lasted from 1990 to 1993.