Jerry Buss’s net worth:
Dr. Jerry Buss had a net worth of $600 million and was an American entrepreneur and professional sports franchise owner. The majority of Jerry Buss’ net fortune came from his ownership of the Los Angeles Lakers basketball franchise. He was also the previous owner of the WNBA’s Los Angeles Sparks, the NHL’s Los Angeles Kings, and the NBA’s Los Angeles Lakers (soccer).
Dr. Jerry Buss, who died on Monday at the age of 80, will be remembered for his widespread influence in professional sports, his remarkable success as a modern-day owner, and his victory as a businessman who treated everyone he encountered with dignity and respect.
Humble Beginnings
Jerry Buss was a self-made guy who lived a rags-to-riches story that epitomized the American Dream. Gerald Hatten “Jerry” Buss, a child of the Great Depression who grew up in poverty in Wyoming, knew the trials of a blue-collar existence and began working at an early age.
Buss started working for his stepfather’s plumbing company at a young age, rising up at 4:30 a.m. to dig trenches on the cold ground for three hours before school.
Later in high school, Buss worked for two bucks a day at a nearby motel. He dropped out of school to work for the railroad, then returned to complete his undergraduate degree at the University of Wyoming and a Ph.D. in physical chemistry at the University of Southern California.
In 1959, Buss used the money saved from his first job after graduating from USC to buy a 14-unit rental property in West Los Angeles for a $6,000 down payment and a $100,000 bank loan.
Buss transformed this $6,000 down purchase into a $350 million real estate empire eighteen years later.
Dr. Jerry Buss is remembered.
Dr. Jerry Buss, true to his personality, kindly waited until the end of the All-Star Weekend to leave this world rather than overshadow the weekend’s sports entertainment show—a spectacle he undoubtedly fashioned.
He had no desire to be in the spotlight. He only wanted to win.
And he did it with a vengeance.
In his 34 years as the Lakers’ owner, his club made it to the NBA Finals 16 times and won 10 titles.
Dr. Jerry Buss was a Wyoming boy with wide eyes and a huge heart who was living the American Dream.
Today, we’re honoring his life, his contributions to the city of Los Angeles, and his incomparable influence on the sport. Dr. Jerry Buss was a one-of-a-kind owner who will be remembered as the best in Los Angeles, if not the whole sport.
Fight On and Rest in Peace, JB.
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As a result of this, he may be able to invest in one of the greatest basketball franchises of all time.
According to the Los Angeles Times, Buss paid $67.5 million to entrepreneur Jack Kent Cooke in 1979 for the Los Angeles Lakers, Los Angeles Kings, the Forum sports stadium, and even a California property. Legends including Magic Johnson, Kareem Abdul-Jabbar, Kobe Bryant, and Shaquille O’Neal have all graced the Lakers’ roster.
In the month leading up to Buss’ death, Forbes valued the Lakers at $1 billion.
As ex-NBA commissioner David Stern expressed it to The New York Times in 2013, Buss was a “visionary owner whose effect on our league is immeasurable.”
How much is the Buss family trust worth?
What is the Buss family’s net worth? The Buss siblings are worth billions of dollars and own a 66 percent share in the Los Angeles Lakers. The Buss family would certainly receive north of $4 billion if the franchise was put on the market today, though a bidding battle may push it much higher.
Jerry’s Wife and Children
Jerry Buss’s marital status is that he is married. He was married to the former JoAnn Mueller from 1957 until 1972, and they had four children: Johnny in 1957, Jim in 1959, Jeanie in 1961, and Janie in 1964. Later, with a partner, he had two additional daughters, Karen Demel Joey in 1985 and Jesse in 1988.