Among his many accomplishments, Jerry Buss was the owner of a big-league baseball team with a fortune estimated at $600 million. A significant portion of Jerry Buss’ riches came through his ownership of the Los Angeles Lakers basketball team. Los Angeles Sparks, NHL Kings, and NBA Lakers were all owned by him at one time or another.
What is Jerry Buss’s Net Worth?
|Net Worth:||$600 Million|
|Age:||80 Years Old|
|Born:||January 27, 1933|
Early Childhood and Schooling: Jerry Buss
A native of Salt Lake City, Gerald Hatten Buss had his start in the world on January 27, 1933, when he was born there. As a child, Jessie, Buss’ divorced mother, was his primary caretaker. After their divorce, Lydus, his father, became a professor of statistics at the University of California, Berkeley. A few years later, he moved to Los Angeles at 9. The family relocated to Kemmerer, Wyoming, after her mother remarried.
In 1953, Buss received a bachelor’s degree from the University of Wyoming on a scholarship. In Los Angeles, he earned his M.S. and Ph.D. in physical chemistry from the University of Southern California at age 24.
The career of Jerry Buss:
As a Property Developer, I
Buss began investing in real estate to augment his income and keep on teaching. In the 1960s, he invested $1,000 in a West Los Angeles housing development. After seeing considerable gains in the real estate market, he and his longtime business partner, Frank Mariani, formed Mariani-Buss Associates, a real estate investment firm. Mary Pickford’s and Douglas Fairbanks’ former Beverly Hills home, Pickfair, was purchased by Buss in 1979 and sold to a new owner in 1987.
Sporting Team Ownership
As of 1979, Jerry had accumulated $67.5 million in savings and was able to acquire The Lakers, The Kings, and The Forum sports venue. That’s the equivalent of $213 million in actual money. The Lakers won their first of ten NBA championships under Jerry’s leadership after making the then-largest sports franchise purchase in history in less than a year. Over $1 billion has been invested in Los Angeles Lakers, making them one of the most profitable and well-known franchises ever.
When the WNBA changed its ownership structure in 2002, Buss bought the Sparks and became the team’s first owner. When the team was sold in 2006, he handed it away for free. Buss also purchased the Los Angeles Lazers of the Major Indoor Soccer League. Additionally, the Lazers played at The Forum. In 1989, the team went out of business, and the league followed three years later.
In recognition of his contributions to the game, he was honored with induction into the Basketball Hall of Fame in 2010. Buss received the Golden Plate Award from the American Academy of Achievement in 1983.
I’m a Poker Player
It wasn’t until he got older that he moved his concentration away from high-stakes cash events and onto tournaments. At the World Series of Poker in 1991, he finished third in a seven-card stud tournament and finished second in a freeroll tournament on the World Poker Tour in 2003. His other roles were in GSN’s High Stakes Poker and NBC’s Poker After Dark.
Texts by Other Authors
Fred “the Hammer” Williamson, a former football great, appeared in the 1974 picture Black Eye produced by Buss. Buss was the owner of the Playboy Club in Phoenix, which he managed for many years.
When Buss made a $7.5 million donation in January 2008, he supported two tenured professors and an undergraduate scholarship fund at the University of Southern California’s Chemistry Department. For the first time, Buss served on the USC Board of Councilors. His generosity benefitted the Lakers organization. In 1996, Walt Hazzard, a former Los Angeles Lakers player, suffered a deadly seizure. He assured his son that as long as Buss was in charge of the club, he would keep Hazzard on the payroll. In 2011, Hazzard was still playing for the Los Angeles Lakers when he passed away.
Buss and JoAnn Mueller, his first wife of four years, divorced in 1972. Buss’s girlfriend, Karen Demel, had two more children with him. At his death, all six of his children worked for the Los Angeles Lakers.
Issues of Law
As the owner of the Los Angeles Lakers, Buss was well-known for being a playboy and having a string of younger lovers. After 15 years of on-and-off dating, Puppi Buss claimed he fathered her son in a paternity suit filed in 1990; the proposed regulations were never published.
In 2007, two CHP officers in Carlsbad, California, saw Buss driving his gold Mercedes-Benz on the wrong side of the road with a 23-year-old lady passenger and issued a citation for drunk driving. After failing a field sobriety test, Buss was taken into custody and tested for blood alcohol content, which came back at 0.08%. He was arrested and booked into jail on accusations of drunken driving.
In 2012, Buss was hospitalized for months because of an undiagnosed stomach condition. Because of his ailing health, he opted not to attend a single Lakers game throughout the 2012–13 season, even after becoming 80 years old. Since 2012, Buss had been battling cancer, revealed just four days before he died.
The 80-year-old man had been brought to Cedars-Sinai Medical Center with an undisclosed malignancy when he passed away from renal failure in February 2013.
According to Forbes, Jerry Buss has an estimated net worth of $600 million as of 2022. He’d put money into Real Estate, Team Owning, and a slew of other ventures to get to this point. At his death, he was making more than $50 million a year.
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