He purchased the Los Angeles Lakers of the NBA along with the Los Angeles Kings hockey team of the NHL, The Forum (all for a then-record combined $67.5 million for those three properties[9]), and a large ranch from Jack Kent Cooke in 1979, in a deal that also transferred ownership of the Chrysler Building. Shes the eldest daughter of Jerry Buss and it is often said that he wanted Jeanie to take over his role as the controlling owner. All Rights Reserved. She then became an executive for the Angeles Blades, a professional roller hockey team. Jesse Buss's net worth is estimated to be $399.3 million. [26] Buss was buried on February 22 at Forest Lawn Memorial Park (Hollywood Hills) in a private ceremony with family and close friends. In 1998, however, Philip Anschutz bought into the team, as well. He was inducted into the Naismith Memorial Basketball Hall of Fame as a contributor. Buss also became the first female controlling owner to win an NBA championship after the Lakers conquered the Orlando bubble. Although Stephen Simons net worth is unknown, Herb Simons fortune is estimated at $2.6 billion. He also co-founded the National Bank of Arizona. Joey Buss, 32, is in his sixth season as the D-Fenders president and chief executive. This is a BETA experience. See: Celebrities Who Are Even Richer Than You ThinkDiscover: How To Build a Financial Plan From Zero Jack Nicklaus Net Worth: $400 Find out more about Phil Mickelson's net worth and golf achievements. If you would like to customise your choices, click 'Manage privacy settings'. According to Streisand, the trust commands that the trust (effectively the Buss family) retain . Ted Lerner & family NET WORTH: $4.8 billion Jeanie has also been involved in the alcohol industry, being the co-founder of her tequila brand, Cincoro Tequila. The coronavirus dented revenue in 2020, as it did for every NFL team, but the leagues profit machine is expected to resume in 2021. 1 with $13 billion. Get Forbes daily top headlines delivered straight to your inbox for news on the worlds most important entrepreneurs and superstars, expert career advice and success secrets. 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. That means each child owns around 11% of the Lakers. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). At his death, his net worth was estimated to be nearly 1 billion dollars. Youll notice only 27 of the NBAs 30 teams are profiled. Properties: Los Angeles Lakers. The Kraft family also owns the New England Revolution (MLS), Kraft Analytics Group (sports data analytics) and Boston Uprising (esports franchise), as well as a small piece of UFC. Today, he has a net worth of $7 billion. 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 . Lasry founded Avenue Capital Management in 1995. Check out more about Fred Couples' net worth and how he made his money. [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. He then reached a major advertising agreement with Great Western Bank for the naming rights to The Forum, resulting in the official name of the building being changed to the Great Western Forum. Click to reveal [30][32] His daughter took over the Lakers on March 27, 2017. Manchester City's Ilkay Gundoan prepares to strike. Buss also owned the Los Angeles Lazers of the Major Indoor Soccer League. [4], His philanthropy also extended to people associated with the Lakers. [2], In 1990, Buss reached a settlement out of court in a palimony suit filed by Puppi Buss, who said that she had an on-and-off relationship with Buss for 15 years, and also alleged that he fathered her son;[18][19] details of the settlement were not revealed. 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. Jim Buss maintains his 11% stake in the teams ownership. If you do not want us and our partners to use cookies and personal data for these additional purposes, click 'Reject all'. In 2019, his online sneaker platform StockX became a unicorn thats when a privately held start-up reaches a value of $1 billion. His net worth is estimated at $1.4 billion. In 1974, Buss produced a movie named Black Eye starring former gridiron star Fred "the Hammer" Williamson. The great man ran the show for 34 years as the controlling owner, till the time of his death. Jeanie Buss is the controlling owner and President of the Los Angeles Lakers. A sports mogul to boot, he owns not only the Nuggets but two soccer teams and the NHLs Colorado Avalanche. Social Media Accounts 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). Their hefty combined bank balance comes from numerous businessman and bankers in the family spread across three generations. These offers do not represent all available deposit, investment, loan or credit products. The Lakers were very successful under Buss' ownership, winning 10 NBA championships with such players as Kareem Abdul-Jabbar, Magic Johnson, James Worthy, Shaquille O'Neal, Kobe Bryant, and Pau Gasol, and with coaches Pat Riley and Phil Jackson. Arjun Athreya is a senior writer at Essentially Sports and has been contributing The Canadian- American businessman bought the team for a. He initially joined the Lakers as an apprentice to general manager Jerry West and assistant,Mitch Kupchak. The Buss family doesn't have that experience so practically the bulk of their income comes from the Lakers. The relocation happened during 1957 when Robert Short was at the helm of ownership. Buss also became the first female controlling owner to win an NBA championship after the Lakers conquered the Orlando bubble. Under Buss' ownership, the Lakers won ten championships and collected an all-star squad that included James Worthy, Magic Johnson, Shaquille O'Neal, and Kobe Bryant. So in case of the Buss Trust, the life in being are the Buss children alive when the trust was created (meaning the kids alive when Dr. Buss died). 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. The Lazers also played in The Forum. Fenway Sports Group reportedly has discussed merging with RedBall Acquisition, a $575 million SPAC launched by private-equity firm RedBird Capital and Oakland As executive Billy Beane, who triggered baseballs Moneyball revolution. Cooke was successful and he owned several professional teams, enjoying paramount success. 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. Janie Buss, the younger sister of Lakers controlling owner Jeanie Buss, believes that her two older brothers are trying to bust the family trust so they can sell their interest in the franchise . Buss was once engaged to Phil Jackson. Also Read: Michael Jordan Biography, Salary, Net Worth, NBA. 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. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. The team flatlined without Tom Brady, but it was still a winning year for the Kraft family. 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). 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. 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 . In the real estate business, Jerry Buss made his initial fortune. While the baseball team rose in value, Fenway Roush and NESN both fell. Buss was born the second of four children to Jo Ann andJerry Buss. [3][15][16] Their oldest child, Lee, was put up for adoption shortly after birth. Daughter Jeanie is now the controlling owner and team president. [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. The Buss Family Trust now owns the Lakers, with Jeanie Buss acting as the President. Jerry Reinsdorf first began amassing his $1.5 billion fortune in the 1970s when he co-founded a real estate company that would later be bought by American Express. In 2004, she married business magnate Tom Benson, who owned the Pelicans as well as the NFLs Saints. Most people on this list are worth billions. As previously stated, Johnny Buss' net worth is made up of his profits as a member of several sports teams as well as the $600 million wealth he inherited from his father, Jerry Buss. Philip Anschutz is an American billionaire who owns a plethora of companies across several sectors. This makes it difficult . The Buss family is synonymous with the Los Angeles Lakers and is well known in the sports and entertainment industry. He was the companys 30th employee in 1980 and led Microsoft as CEO from 2000-2014. Buss's 66% controlling ownership of the Lakers passed to his six children via a trust, with each child receiving an equal vote (11% for each child). In 2002, when the WNBA was restructured to give its teams individual owners, Buss took ownership of the Sparks. [13], Buss was a high-stakes cash game poker player for many years, but later in life was more active in tournament games. Shaquille O'Neal, Jeanie Buss, and former Lakers coach Phil Jackson. While the Lakers were a dynasty team in the 80s, Jeanie has helped keep the team highly successful, having current NBA legends on the team such as LeBron James, Carmelo Anthony, and Russell Westbrook and winning an NBA championship in 2020. We, Yahoo, are part of the Yahoo family of brands. So best case is 40mil a year minus taxes 25mil net per year. He inspired the Lakers' Showtime era with his vision that basketball games must be entertaining. Bush family Net Worth. Know about her Salary, Career, and Achievements. He sold the team in 2006. [17], Buss had two more children with a girlfriend, Karen Demel: Joey (b. The action you just performed triggered the security solution. Much of the rest came from his legendary sponsorship deals with Nike, Gatorade, Hanes and many other corporate giants. A surging stock market and cheap financing also pushed up valuations and sparked interest from far beyond the billionaire class as a preponderance of sports SPACs are being marketed to less wealthy retail investors. No reliable net worth information exists for Clayton Bennett, but Aubrey McClendon was worth $1.2 billion the last time Forbes inventoried his fortune. Jeanie Marie Buss has an estimated net worth of $500 million. Along with her late husband, Gail Miller built a $5.3 billion, 64-dealership automotive sales empire from a single Toyota dealership. Jim has yet to reveal any additional information about his earnings. He grew up with older brotherJohnnyand sistersJeanieand Janie. She maintained a solid relationship with her father, however. The 2013 World Series of Poker held The $2,500 Seven Card Stud tournament in his memory and drew 246 entrants. We welcome all corrections and feedback using the button below. Find out how much they earn in mounting fees and prize money. Shes the eldest daughter of Jerry Buss and it is often said that he wanted Jeanie to take over his, The Anschutz Entertainment Group is a flourishing company worldwide, which, more than 100 arenas and concert venues worldwide. Talent agency giant Endeavor paid $4 billion for the mixed-martial-arts promotion in 2016, and its current enterprise value is $9.4 billion. Joseph Tsai is worth $10.6 billion. 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. This close-knit group of friends would often bid on charitable auction items that would help the causes of the events they attended. 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. The setback has not hurt the fortunes of Pats owner Robert Kraft, whose well-timed investments in non-NFL assetsas well as the enduring profits of football franchiseshave delivered a winning year for the billionaire. Advertiser Disclosure: Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. Jerry Buss did not stop there. People may receive compensation for some links to products and services on this website. 2023 Celebrity Net Worth / All Rights Reserved. The Canadian- American businessman bought the team for a sum of $5.2 million from Robert Short. [7] In 1979, Buss purchased Pickfair, the Beverly Hills estate once owned by Mary Pickford and Douglas Fairbanks;[4] he sold it in 1987.[8]. After Jim's father died, their family trust divided Jerry's $600 million and other assets among the Buss siblings in equal parts. About Us She grew up in Seattle and graduated from the University of Washington. New York Jets QB Sam Darnold looks downfield. Compare:The Richest Athletes in the World. 1 seed for Division 1 baseball playoffs, High school tennis: Southern Section playoff pairings, High school baseball: Southern Section playoff pairings. Yes, the Los Angeles Lakers are still owned by the Buss Family Trust, with Jeanie Buss, as the controlling owner. Sign up for our daily newsletter for the latest financial news and trending topics. Quicken Loans is the largest online mortgage lender, and it grew out of a company that Daniel Gilbert co-founded in 1985 at just 22 years old. 1963). Guber, who also is a minority owner of the Los Angeles Dodgers, is the chairman and CEO of Mandalay Entertainment. Jeanie Buss, 55, is in her fourth season as Lakers president, her 18th season overall with the organization. According to the recent financial reports of 2023, the current net worth of Jeanie Buss is estimated to be around $540 million. Pagliuca made his as a private equity investor. Jim Buss was born on 9TH November 1959, Los Angeles County, California, the U.S. The NBA has seen a lot of great owners in the past. She began her career at the age of 19 when she became the general manager of the Los Angeles Strings, a professional tennis team. Eventually, all three teams moved into a more modern arena in downtown Los Angeles, the Staples Center, which opened in 1999. In 2019 Buss sold her home in Playa Vista for $2.575 million. Daughter Jeanie is now the controlling owner and team president. The value of the Patriots increased by 7% in Forbes 2020 NFL team valuations, adding $300 million to the Kraft empire. 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*. Jerry Buss Net Worth. 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. Their stronghold over the political scene in the country is due to the governors, presidents and . He is an American nationality. Your IP: Dinan founded York Capital Management in 1991. Therefore each child's 11% stake is worth around $550 million. Buss bought the Lakers in 1979, after which the team saw a meteoric rise. Following Jim's father's death, Jerry's 600 million$ estate and additional assets were distributed equally among the Buss siblings by their family trust. 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. Philip Anschutz, the billionaire founder of sports and entertainment company AEG, is reportedly selling his 27% ownership stake in the Lakers, according to Scott Soshnick and Eben Novy-Williams of Sportico. Today hes worth $11.2 billion. The Lakers are one of the prestigious sports franchises in history, and Buss along with her entire family helped build an NBA powerhouse. [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 was invited by his father to join the great Los Angeles Lakers in 1988. So who are all the people that own a stake in the Lakers? The hardworking man with a keen mind brought the annual losses from $1 million to $50,000. The 2,200-square-foot home also lies within the Breakers complex, a gated community within the Playa del Rey area. The family has a net worth of $5.4 billion. The Dwarfs were regular fixtures in and among the Showtime Lakers throughout the 1980s and 1990s, and until Jerrys passing in 2013. Whereas, Dr. Jerry Buss massive wealth of $600 million was also distributed among six children via a family trust. 20 Items Costco Superfans Say To Stop Buying Due To Inflation, Most people on this list are worth billions, Heres a look at the richest among the rich, Best National Banks of 2021: Low Fees, High APYs & Accessibility, LeBron James and More of the Richest Athletes Younger Than 40. The franchise was first and foremost owned by Ben Berger when the team played in Minneapolis. Following this, she became vice president of the Lakers after the passing of her father. So who are all the people that own a stake in the Lakers? He later formed a venture capital firm and Monumental Sports, which owns not just the Wizards, but the NHLs Washington Capitals, two arena football teams, a WNBA team and Capital One Arena. Their parents divorced in 1972. When former Lakers player Walt Hazzard, then an adviser to the team, suffered a catastrophic stroke in 1996, Buss kept Hazzard on the payroll and told Hazzard's son that his father would remain a Lakers employee for as long as Buss owned the team. Here's how she compares to the other NBA owners in terms of wealth. He's worth $400 million, according to Celebrity Net Worth. 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. Antony Tony Ressler has an estimated net worth of $2.9 billion. When former Lakers owner Jerry Buss died in 2013, he left his six children with a family trust owning 66 percent of the team, according to the Los Angeles Times. 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. 1988). 2 shareholder behind only Jack Ma. 1, Lakers vs. Warriors: What scouts expect in playoff series, Photos | Stars come out to support the Lakers, Game 7 mentality: Lakers close out Grizzlies to earn some rest. There was an unknown error. Jeanie Buss is a beautiful and brilliant woman who joined her family's business at 19 years old. You can click on the 'unsubscribe' link in the email at anytime. Buss became an owner of the Los Angeles Strings in World Team Tennis. Who Are Jerry Buss' Sons? Earvin Johnson is a shining example of excellence on and off the court, and it is a privilege to have acquired his ownership position, he added. So, what is Buss' net worth? She is the daughter of Jerry Buss, the former controlling owner of the Lakers. Whereas, her sister Jeanie handles another part of the Lakers business. [23], After being hospitalized at Cedars-Sinai Medical Center with an undisclosed form of cancer, he died of kidney failure on February 18, 2013, aged 80. He was born on 9TH November 1959. [21] Through his 80th birthday on January 27, 2013, he had not attended a Lakers game during the 201213 season due to health concerns. That's certainly good news for the children of the late Dr. Jerry Buss, the team's charismatic longtime owner. 2020 America's Richest Families Net . When Hazzard died in 2011, he was still a Lakers employee. Terms of Use, Michael Jordan Biography, Salary, Net Worth, NBA, How much is Jeanie Buss Net worth? American part-owner and former executive vice president of basketball operations Jim Buss was born in Los Angeles County, California. Gerald Hatten Buss (January 27, 1933 - February 18, 2013) was an American businessman, investor, chemist, and philanthropist. His family estate now owns his part of the Thunder. The Highest Paid Player on Every NFL, MLB and NBA Team. 7 on the 2020 list of the Worlds Most Valuable Sports Empires, up from eighth last year. 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. Its now one of the biggest real estate investment trusts in the world. These stars made big bucks despite never getting a championship. His siblings have also followed in their father's footsteps, with Jeanie Buss being the most successful and having a net worth of $500 million. Tilman Fertitta, who has an estimated net worth of $4.7 billion, owns Golden Nugget Casinos as well as Landrys, which Fertitta took private in a $1.4 billion deal in 2010. In the 1970s, Gayle Benson worked in interior design. Heres a look at the richest among the rich. Offers may be subject to change without notice. Buss attended college atthe University of Southern California(USC), majoring in math before he dropped out. The jump is the largest among sports owners and lands the group at No. 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 .